Page Industries Ltd’s shares fell more than 3% on Friday on the National Stock Exchange, following its subdued June-quarter results (Q1FY22). Within segments, athleisure, kids and women’s innerwear saw stronger growth compared to men’s innerwear. As such, a pick-up in men’s innerwear would go a long way in improving sentiments for the stock, said analysts. Earnings before interest, tax, depreciation and amortization (Ebitda) margins contracted as much as 1,250 basis points (bps) on a sequential basis to 6.8%. Page Industries told analysts that July sales recovery is healthy and similar to April.

Source: Mint August 15, 2021 20:13 UTC