Page Industries Q3 net profit jumps 77 percent to Rs 154 crore
Page Industries Ltd (PIL) reported a 77 percent increase in consolidated net profit at Rs 154 crore ($21.2 million) for the third quarter ended December 2020, as against a net profit of Rs 87 crore in the year-ago period.
The company’s revenue for the quarter rose 17 percent to Rs 927 crore, as against Rs 794 crore in the corresponding period of the previous fiscal.
PIL's total expenses for the quarter were up 6 percent at Rs 724 crore from Rs 680 crore in the year-ago period.
Commenting on the results, Page Industries managing director, Sunder Genomal, in a statement said: “We are encouraged by the strong demand in all our product categories in all channels. The athleisure and kids categories have particularly shown very promising growth and acceptance. We continue to strengthen management with the best talent and invest in digital transformation, technology, and innovation in product design and development, marketing, and brand building.”
Over the outlook, Genomal added: “Given our strong and proven business model, wide product portfolio, efficient financial management, and a very loyal customer base, we continue to remain very confident of our medium to long term prospects.”
Page Industries is the exclusive licensee of American underwear brand Jockey International and Speedo International for manufacture, distribution, and marketing in India.
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