Page Industries surges 2% as investors applaud second interim dividend despite Q2 dip

Page Industries, the exclusive licensee for Jockey India, experienced a 2% uptick in shares on November 10, fueled by positive investor sentiment surrounding the company’s announcement of a second interim dividend at Rs 75 per share. This positive response comes in the wake of a somewhat lackluster second-quarter performance.

Q2FY24 saw a 7.3% decline in Page Industries’ consolidated net profit compared to the previous year. The total revenue also registered an 8.3% on-year decrease, as reported by the company on November 9. Despite these challenges, the earnings before interest, tax, depreciation, and amortization (Ebitda) margin demonstrated resilience, expanding to 20.8% from the year-ago period, thanks to stable raw material prices.


Management remains optimistic, considering the hurdles faced in the September quarter as transient. They assert that continued investments in technology will safeguard healthy operating margins. The company’s commitment to expanding its distribution network aligns with strategic focuses on metros, tier 2 and 3 cities. Additionally, efforts to reinforce their online presence through the e-commerce channel persist, adapting to evolving consumer buying patterns.

In a proactive move, Page Industries declared a second interim dividend of Rs 75 per share, with November 18 slated as the payment date. As of 1:27 pm, shares were trading 1.48% higher at ₹38,244.20.