Q1FY21 results: Page Industries records net loss of Rs 39.55 crore

Page Industries Limited announced its Q1FY21 results on Sep 3, 2020. The consolidated net loss in Q1FY21 came in at Rs 39.55 crore, which declined by 135.74 per cent, as compared to Q1FY20, when it reported a profit of Rs 110.66 crore.

The company reported consolidated net sales of Rs 284.8 crore in Q1FY21, which declined by 65.89 per cent YoY from Rs 834.95 crore in Q1FY20.

The company posted negative EBITDA of Rs 34.72 crore in Q1FY21 that decreased by 118.61 per cent YoY. For Q1FY20, it had posted EBITDA of Rs 186.6 crore.

EBITDA margin as of Q1FY21 was at -12.19 per cent that declined by 34.54 per cent YoY. EBITDA margin for Q1FY20 was 22.35 per cent.

The net profit margin in Q1FY21 came in at -13.89 per cent, which declined by 27.14 per cent YoY. The net profit margin for Q1FY20 was 13.25 per cent.

Commenting on the results, Sunder Genomal, Managing Director, Page Industries said, while this quarter saw a significant impact of the Covid-19 lockdowns, the operations partially resumed from May. We are confident of getting back on track to the previous year’s level of sales and operations as soon as the pandemic is behind us. We continue to remain confident of the medium-term given our strong business model, product portfolio and healthy balance sheet.

The share price of the company closed at  Rs 19145.35, down by 2.62 per cent.