Page Industries gains 2% on expansion plans

For the quarter ended June 30, 2017, the company reported total revenue at 696.89 crore and net profit stood at 85.30 crore.NEW DELHI: Shares of Page Industries gained nearly 2 per cent in Monday’s trade after the company announced plans to double production capacity to 400 million pieces per annum in the next three years.

Following the development, the stock advanced 1.72 per cent to Rs 18,884.45 on BSE. It opened at Rs 18,666 and touched an intraday high and low of Rs 18,899.15 and Rs 18,656.70 respectively, till around 11.40 am. (IST)

Sunder Genomal, managing director, Page Industries said, «As the brand expands in the country, we are looking to increase production. We are looking to double capacity from current 200 million pieces by 2020.»

The brand has 17 production units in Karnataka. The potential for growth in India is huge, Genomal explained.

Promoters held 49.01 per cent stake in the company as of June 2017.

For the quarter ended June 30, 2017, the company reported total revenue at 696.89 crore and net profit stood at 85.30 crore.

The scrip touched its fresh 52-week high of Rs 18,899.15 today, September 11, 2017 and had touched its 52-week low of Rs 12,360 on November 24, 2016.

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