Page Industries profits driven by cost management, stock gains over 7%

Net surged 46% aided by 361 bps expansion in operating profit margin

Investors cheered the stellar June 2018 quarter (Q1) numbers of Page Industries on Thursday, with the stock rising over seven per cent to close at Rs 32,391 after hitting an all-time high of Rs 32,750. 

Though the company’s revenue of Rs 8.2 billion (17.1 per cent up year-on-year) was tad below the Street’s expectations of Rs 8.3 billion (as per Bloomberg consensus), its reported net profit of Rs 1.24 billion (up 45.9 per cent year-on-year) was well above the estimations of around Rs 1.14 billion. 

Improved profitability, led by better cost management, drove the bottom-line growth during the quarter. Like