Campus Activewear tanks 10%; hits new low on weak Q2 results
The company experienced subdued performance amid reduced sales volumes during the quarter due to a difficult macro-economic environment and some channel inventory correction .
Shares of Campus Activewear hit a new low of Rs 237.70, as they slipped 10 per cent on the BSE in Friday’s intra-day trade after the company reported a sharp 97.8 per cent decline in its profit after tax at Rs 0.30 crore in September 2023 (Q2FY24), due to weak operational performance. The footwear company had posted a net profit of Rs 14.5 crore in a year ago quarter.
The company experienced subdued performance amid reduced sales volumes during the quarter due to a difficult macro-economic environment and some channel inventory correction .
Shares of Campus Activewear hit a new low of Rs 237.70, as they slipped 10 per cent on the BSE in Friday’s intra-day trade after the company reported a sharp 97.8 per cent decline in its profit after tax at Rs 0.30 crore in September 2023 (Q2FY24), due to weak operational performance. The footwear company had posted a net profit of Rs 14.5 crore in a year ago quarter.