Page Industries dips 6%, hits over two-year low after another slow quarter

Analysts attribute the company's poor performance during the quarter to slowdown in the economy and low footfalls in EBO's (exclusive brand outlet)

Shares of Page Industries hit an over two-year low of Rs 17,438, down 6 per cent intra-day on the BSE on Friday, after the company reported drop in net profit for the second quarter in a row, due to lower volume growth during April-June quarter (Q1FY20). The stock was trading at its lowest level since February 6, 2018.

Page Industries, the maker of Jockey garments, reported 10 per cent year-on-year (YoY) decline in net profit at Rs 111 crore in Q1FY20, while net sales grew 2.4 per cent YoY to Rs 835 crore over the previous year's quarter. EBITDA