Moneycontrol
Nov 10, 2017 03:13 PM IST | Source: Moneycontrol.com

Page Industries hits fresh 52-week high post Q2 show, but brokerages remain mixed

The exclusive licensee of JOCKEY International Inc (USA) has reported a 22.4 percent growth year-on-year in profit at Rs 84 crore and 17.1 percent rise in revenue at Rs 626 crore for the quarter.

Moneycontrol News @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Shares of Page Industries fell intraday on Friday before staging a recovery in the last hour of trade.

Investors continued to react to the company’s results and brokerages were mixed on the performance.

The exclusive licensee of JOCKEY International Inc (USA) has reported a 22.4 percent growth year-on-year in profit at Rs 84 crore and 17.1 percent rise in revenue at Rs 626 crore for the quarter.

Operating profit increased 19.5 percent to Rs 128.4 crore and margin expanded by 40 basis points to 20.5 percent on year-on-year basis.

Numbers were ahead of estimates. Profit was estimated at Rs 80.4 crore and operating income at Rs 125 crore with margin at 19.7 percent for the quarter, according to average of estimates of analysts polled by CNBC-TV18. It announced dividend of Rs 35 per share.

Brokerage: Credit Suisse | Rating: Downgrade to Underperform | Target: Rs 18,500

The brokerage said that the downgrade was on the basis of valuations as the stock trades at 60 times FY19 earnings. Having said that, it still likes the structural story of the company and it expects gross margins to see lesser headwinds.

Brokerage: Motilal Oswal | Rating: Buy | Target: Rs 25,580

The brokerage house said that company’s strong earnings traction continues; deserves high valuation. Unlike Retail Peers, the firm has shown ability to maintain strong double-digit volume growth, the broking firm said.

At 15:10 hrs Page Industries was quoting at Rs 22,340.55, up Rs 26.25, or 0.12 percent.
Sections
Follow us on
Available On