Festival season brings little cheer for Jockey manufacturer Page Industries

Topline for the September quarter grew at the slowest pace of 10 per cent; net profit too was up just 10 per cent

For quality stocks that trade at premium valuations amid expectations of strong growth rates, there is no leeway for disappointment.

This what happened with Page Industries. The Indian franchise and manufacturer of Jockey innerwear reported lower-than-expected numbers for the September quarter (Q2) on Wednesday, mainly due to the shift in festive season from Q2FY19 to the current quarter, indicating high chances of an improved performance in the December quarter. 

Yet, the stock fell about 5 per cent to Rs 27,880, even as the BSE FMCG index was up 0.9 per cent on Wednesday. 

Page doesn’t divulge volume figures, but with a delayed festive