The company experienced a 59% year-on-year drop in net profit and a 12.8% decrease in revenue from operations.
Challenging economic conditions and a decline in consumption were cited as the primary factors behind the company’s underperformance.
Page Industries reported a significant decline in net profit, which plummeted by 59% year-on-year to Rs 78.4 crore in the fourth quarter of the financial year 2022-23.
The weak financial performance of Page Industries was largely attributed to the challenging economic conditions prevailing during the reporting period.