Page Industries posts Q1 net profit of Rs 11 crore
Apparel manufacturer Page Industries Ltd (PIL) reported a net profit of Rs 11 crore ($1.4 million) for the first quarter ended June 2021, as against a net profit of Rs 40 crore it had reported in the year-ago period.
The company’s revenue for the quarter rose by 76 percent to Rs 502 crore, as against Rs 285 crore in the corresponding period of the previous fiscal.
PIL's total expenses during the quarter rose by 43 percent at Rs 490.57 crore, as compared to Rs 343 crore during the same period last year.
Commenting on Q1 results, Sunder Genomal, managing director of Page Industries, in a statement said: "I am pleased to announce that despite unprecedented challenges posed by resurgence of the pandemic, we delivered Y-o-Y growth across all our segments. Despite half of the quarter being under lockdown for most cities and states, we could successfully add 1,465 MBOs and 9 EBOs during these three months. We remain focused on profitable partnerships with our distributors while continuing expansion.
“With our focused approach on our core business verticals, we remain confident of maintaining growth backed by our continued efforts on innovation and investments,” Genomal added.
Bengaluru-based Page Industries is the exclusive licensee of American underwear brand Jockey International for manufacture, distribution, and marketing in countries such as India, Sri Lanka, Bangladesh, Nepal, UAE, Oman, and Qatar. It is also the exclusive licensee of Speedo International for India.
Copyright © 2023 FashionNetwork.com All rights reserved.