Page Industries rose 3.77% to Rs 23128.30 after ICRA reaffirmed its rating on the bank facilities of the company.
The branded innerwear maker announced during market hours today that ICRA had reaffirmed the long-term rating of the company at ICRA AA (Stable) while the short term rating has been reaffirmed at ICRA A1+.
The rating agency has also reaffirmed the long term and short term un-allocated bank facilities of Page Industries at ICRA AA (stable) and ICRA A1+, respectively.
The company's net profit rose 23.6% to Rs 114.51 crore on 12.3% increase in net sales to Rs 775.40 crore in Q2 September 2019 over Q2 September 2018.
Page Industries is the exclusive licensee of JOCKEY International Inc. (USA) for manufacture, distribution and marketing of the JOCKEY brand in India, Sri Lanka, Bangladesh, Nepal and the UAE. Page Industries is also the exclusive licensee of Speedo International for the manufacture, marketing and distribution of the Speedo brand in India.
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