Jockey India licensee Page Industries profit up 22% to Rs 84 crore

Page Industries Ltd the exclusive licensee of Jockey International Inc (USA) profit has gone up 22 percent to Rs 84 crore (approx $12.9 million) as compared to the same quarter previous fiscal.
 
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The company has posted sales of Rs 617 crore (approx $94.3 million) for the quarter ended September 30, 2017, an increase of 17 percent when compared to the corresponding quarter last year.
 
Page Industries had clocked Rs 2,000 crore ($305.7 million) in revenues last year, and has been growing consistently at a rate of 19% year-on-year. 
 
For the half-year ended September 30, 2017, the company has already crossed the half way mark with sales revenue recorded at Rs 1306 crore (approx $199.6 million), a growth of 19 percent. Net profit for the period is Rs 169 crore ($25.9 million), a growth of 24 percent, the company said in a BSE filing.
 
With strong Q2 results the company is now planning to double its production capacity to 400 million pieces per annum and is also looking to tap the tier II & III markets to further boost growth by setting up exclusive stores.
 
Jockey International entered the Indian market in 1995 through an exclusive license agreement with Page Industries Ltd.
 
Jockey has about 370 exclusive stores across the country, and retails out of 50,000 multi-brand outlets in 1,400 towns and cities.

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