Nov 19, 2020
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Page Industries Q2 net profit dips 3 percent to Rs 111 crore

Nov 19, 2020

Page Industries Ltd, the maker of Jockey innerwear and Speedo swimwear reported a 3 percent decline in its net profit to Rs 111 crore ($15 million) for the second quarter ended September 2020.

Page Industries Q2 net profit dips 3 percent to Rs 111 crore - Speedo

The company’s revenue for the quarter declined 5 percent to Rs 740 crore over Q2 September 2019.
The company’s expenses rose by 100 percent to Rs 35 crore for the quarter, as against Rs 18 crore it had reported in the corresponding period last fiscal.

“We have seen a healthy bounce back in our business with sales back to near pre-Covid levels in all product categories. Given the strong brand and proven business model, wide product portfolio, efficient financial management, we remain confident of our medium- to long-term prospects,” Sundar Genomal, managing director Page Industries, said in a post-earnings press statement.
During the quarter, the company witnessed a strong revival in sales and expects the growth momentum to continue as majority of its multi-brand outlets, exclusive brand outlets, and large format stores are fully functional.
Page Industries is the exclusive licensee of Jockey International and Speedo Inc for manufacture, distribution, and marketing in India.

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