Page Industries posts Q4 net profit of Rs 116 crore
Apparel manufacturer Page Industries Ltd (PIL) reported a four-fold jump in its net profit at Rs 116 crore ($16 million) for the fourth quarter ended March 2021, as against a net profit of Rs 31 crore it reported in the year-ago period.
The company’s revenue for the quarter rose 63 percent to Rs 881 crore, as against Rs 541 crore in the corresponding period of the previous fiscal.
However, for the fiscal year 2020-21, the company reported a marginal decline in its net profit to Rs 341 crore from a net profit of Rs 343 crore in the previous year, while revenue for the year was down 4 percent to Rs 2,833 crore as compared to Rs 2,946 crore in FY 2019-20.
Commenting on the results, Sunder Genomal, managing director at Page Industries, in a statement said: “The company has witnessed a strong demand pick-up across all its product categories. Although the year started on a challenging note, we were quick to implement our business continuity plans resulting in one of the best quarter performances for the company in its history.”
Over the outlook, Genomal added: “We continue to remain very confident of our medium to long term prospects. We have added 180 exclusive brand outlets during the year and continue to strengthen our distribution channels.”
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.
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