Page Industries stock gets no comfort from Sep-quarter top line growth

Margin pressure weighed on earnings in September quarter

Despite the better-than-expected top line growth in the September quarter (Q2) for Page Industries, which was led by a 9 per cent increase in volumes, the near-5 per cent jump in the stock during the first half of Friday’s session did not last. 

The stock closed with just 0.6 per cent gains at Rs 23,724.35 on the BSE. The margin pressure in Q2, coupled with worries over near-term volumes and profitability, pulled back investor enthusiasm. 

The Indian maker of popular innerwear brand Jockey clocked 12.3 per cent year-on-year (YoY) growth in its top line to Rs 775.4 crore, versus analysts’ expectations of