This small-cap clothing company jumps by a whopping 18.39 per cent today; do you hold it?
The company reported a rise of 87 per cent in Q4 net profit and declared a dividend of Rs 5 per share.
As the season of financial results is on, Pearl Global Industries Ltd has reported results for Q4 and year ending on March 31 2023.
In comparison to the same quarter last year, the company's net profit for the fourth quarter that ended on March 31, 2023, increased by 87.15 per cent to Rs 53.32 crore from Rs 28.69 crore on a consolidated basis. However, the company's overall revenue dropped by 19.50 per cent to Rs 735.59 crore for Q4FY23 from Rs 913.81 crore for the same quarter the year before.
The company reported an over 2-fold increase in net profit for the year ended March 31, 2023, from Rs 70.11 crore to Rs 152.99 crore on a consolidated basis. When compared to the year ended March 31, 2022, the company's total revenue climbed by 15.81 per cent, reaching Rs 3,181.22 crore for the year under review as compared to Rs 2,746.99 crore for the year ended March 31, 2022.
Earlier, the company had given an interim dividend of Rs 2.5 per equity share on November 23, 2022 now it is giving a second interim dividend of Rs 5 per equity share which has an ex-date on May 26 2023.
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In the last trading session scrip was closed at Rs 446.40 and today it was opened at Rs 460.05. Currently, it is trading at Rs 514.15 up by 15.18 per cent and till now touched a high of Rs 528.50 and a low of Rs 460.05. So far 20,179 shares were traded over the counter at BSE.
Pearl Global Industries Limited (PGIL) is a garment exporter, manufacturing from multiple sourcing regions within India and countries within South Asia. The product range includes knits, woven, and bottoms across men, women, and kid's wear segments.