INSUBCONTINENT EXCLUSIVE:
Mumbai: Shares of Page Industries tumbled as much as 9 per cent on Friday even after the company reported strong results for the quarter to
December.
Some analysts said the move to Ind-AS 115 accounting standards resulted in higher revenue accretion
margin improved 160 basis points year on-year to 22.4 per cent, led by 150 basis points year-on-year gross margin improvement and aided by
higher sales of high-margin thermal wear products during the quarter.
Adoption of Ind-AS 115 standards resulted in reporting of Rs 33 crore
more in revenue in the December quarter and a Rs 12.4-crore benefit in profit before tax .
Adjusted revenue growth would have been under 14
segmental disclosures should have been avoided, some analysts said.
