PAGE INDUSTRIES Announces Quarterly Results (3QFY21); Net Profit Up 76.6%

Thu, 11 Feb

PAGE INDUSTRIES has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

PAGE INDUSTRIES Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-19*	3 Sep-20*	3 Dec-20*	QoQ Change	YoY Change
Net Sales	Rs m	7,938	7,403	9,271	25.2%	16.8%
Other income	Rs m	35	37	42	11.8%	19.1%
Turnover	Rs m	7,973	7,440	9,312	25.2%	16.8%
Expenses	Rs m	6,550	5,749	7,009	21.9%	7.0%
Gross profit	Rs m	1,388	1,654	2,261	36.8%	62.9%
Depreciation	Rs m	164	157	156	-0.2%	-4.7%
Interest	Rs m	90	75	74	-1.6%	-17.5%
Profit before tax	Rs m	1,169	1,459	2,073	42.1%	77.3%
Tax	Rs m	299	350	536	52.9%	79.2%
Profit after tax	Rs m	870	1,109	1,537	38.6%	76.6%
Gross profit margin	%	17.5	22.3	24.4
Effective tax rate	%	25.6	24.0	25.8
Net profit margin	%	10.9	14.9	16.5

Year-on-Year Performance:

• The company's operating income during the quarter grew 16.8% on a year-on-year (YoY) basis. The expenses were up by 7.0% YoY during the same period.
• The company's operating profit increased by 62.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 24.4% in 3QFY21 as against 17.5% in 3QFY20.
• Depreciation charges declined by 4.7% and finance costs declined by 17.5% YoY, respectively.
• Other income increased by 19.1% YoY during the quarter.
• Net profit for the quarter increased by 76.6% YoY. Net profit margins during the quarter increased from 10.9% in 3QFY20 to 16.5% in 3QFY21.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 25.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 21.9% QoQ during the same period.
• The company's operating profit increased by 36.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 24.4% in 3QFY21 as against 22.3% in 2QFY20.
• Net profit for the quarter increased by 38.6% QoQ, while net profit margins increased from 14.9% in 2QFY20 to 16.5% in 3QFY21.

To see how PAGE INDUSTRIES has performed over the last eight quarters,please visit here.

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PAGE INDUSTRIES Share Price Performance

Over the last one year, PAGE INDUSTRIES share price has moved up from Rs 24,115.2 to Rs 30,599.0, registering a Gain of Rs 6,483.8 or around 26.9%.

Overall, the S&P BSE SENSEX is up 25.8% over the year.

Current Valuations

At the current price of Rs 30,599.0, the price to earnings (P/E) ratio of PAGE INDUSTRIES stands at 133.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 41.6 times.