Page Industries' net profit surges multi-fold to Rs 207 cr in June qtr

Apparel manufacturer Page Industries Ltd on Thursday reported a multi-fold increase in its net profit at Rs 207.03 crore for the quarter ended June 2022.

The company had posted a net profit of Rs 10.94 crore during the April-June period a year ago, Page Industries Ltd (PIL) said in a BSE filing.

Its revenue from operations during the quarter under review was at Rs 1,341.26 crore, up over two-fold compared to a lower base of the pandemic-impacted Q1 FY22.

PIL's revenue from operations in the April-June quarter of FY22 stood at Rs 501.53 crore.

Total expenses also doubled to Rs 1,070 crore as against Rs 490.57 crore earlier.

PIL's Managing Director V S Ganesh said, "Riding on the back of strong sales performance and robust financial planning, despite external challenges, we have successfully delivered yet another milestone performance this quarter."

On the outlook, he said PIL's roadmap of capacity augmentation and retail expansion will continue this momentum.

"We remain optimistic of the thriving market for our products and by banking on our pillars of quality, cost, product design and customer outreach, we will continue to deliver a wide range of premium products to our customers. Our strategy of introducing kid's wear across exclusive womenswear stores has shown good results and we are confident of making inroads into this nascent and fast-growing segment," he added.

Page Industries is the exclusive licensee of Jockey International Inc (USA) for manufacture, distribution, and marketing in India, Sri Lanka, Bangladesh, Nepal, Oman, Qatar, Maldives, Bhutan, and the UAE. It is also the exclusive licensee of Speedo International for the Indian market.

Shares of Page Industries Ltd on Thursday settled at Rs 49,122.05 on BSE, up 1.34 per cent from its previous close.