Page Industries slips 4%, hits 52-week low on disappointing Q3 results

Ebitda margin contracted by 530 bps year-on-year, and 320 bps quarter-on-quarter to 15.8 per cent, primarily due to lower absorption, advertising and manpower costs

Shares of Page Industries, the country's largest innerwear maker, hit a 52-week low of Rs 37,650.75, down 4 per cent on the BSE in Thursday’s intra-day trade, after the company reported a disappointing set of results for the quarter ended December 2022 (Q3FY23).

The company's earnings before interest, depreciation, tax and amortization (Ebitda) margin contracted by 530 bps year-on-year (YoY) and 320 bps quarter-on-quarter (QoQ) to 15.8 per cent, primarily due to lower absorption, advertising and manpower costs. However, the management is confident of the company's long-term growth on the back of consumption, industry and economic drivers.

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