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Shares of Page Industries Ltd hit a 52-week high in morning trade on Friday after the company reported a multi-fold increase in its net profit for the April-June quarter. The net profit stood at Rs 207.03 crore, a 1792 percent growth from Rs 10.94 crore in the corresponding period last year.

Page Industries Ltd shares opened on a strong note at Rs 49,799.95, then jumped 2.47 percent to touch its 52-week high of Rs 50,338.05 on the BSE. At 12:32 pm shares of the apparel manufacturer were trading at Rs 49,699.55, up by 1.18 percent from the previous close on the BSE.

The finances

Page Industries Ltd’s revenue from operations during the Apil-June quarter stood at Rs 1,341.26 crore, up over two-fold compared to Rs 501.53 crore in the corresponding period a year ago.

Total expenses also doubled to Rs 1,070 crore as against Rs 490.57 crore in the first quarter of financial year 2022.

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"Riding on the back of strong sales performance and robust financial planning, despite external challenges, we have successfully delivered yet another milestone performance this quarter,” said Page Industries Ltd’s Managing Director V S Ganesh.

On the outlook, he said PIL's roadmap of capacity augmentation and retail expansion will continue this momentum.

"We remain optimistic of the thriving market for our products and by banking on our pillars of quality, cost, product design and customer outreach, we will continue to deliver a wide range of premium products to our customers. Our strategy of introducing kid's wear across exclusive womenswear stores has shown good results and we are confident of making inroads into this nascent and fast-growing segment," he added.

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Shares of Page Industries Ltd have performed really well on the stock market. The stock has gained over 14 percent in the past one month.

Page Industries is an Indian manufacturer and retailer of innerwear, loungewear and socks. It is the exclusive licensee of Jockey International in India, Sri Lanka, Nepal, Bangladesh, the United Arab Emirates, Oman and Qatar.

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(Edited by : Nishtha Pandey)