Page Industries reports Q2 net profit of Rs 162 crore
Clothing manufacturer Page Industries Limited witnessed a minimal increase in its net profit to Rs 162 crore ($20.1 million) for the second quarter ended September 2022, as against Rs 160 crore reported in the year-ago period.
The company’s revenue for the quarter rose by 16 percent to Rs 1,255 crore, as against Rs 1,084 crore reported in the corresponding period of the previous fiscal year.
Commenting on the Q2 results, V S Ganesh, managing director of Page Industries Limited in a statement said, “We are pleased to report that historically, this has been the best Q2 for the company in terms of revenue. We are well in line with our guidance of delivering robust growth on the back of strong levers such as increased shift in organised retail, increased branded innerwear demand and growing aspirations for global brands.”
“We will continue to invest in capacity building, manpower, business process re‐engineering, digital outreach and advertising while building inventory. With a strong focus in the fast‐growing tier 2, 3, 4 markets and with new product introductions to further strengthen our product portfolio, we see a huge opportunity for retail expansion and growth as we move forward,” he added.
Page Industries is the exclusive licensee of Jockey International Inc (USA) and Speedo International for manufacturing, distribution and marketing in India, Sri Lanka, Bangladesh, Nepal, Oman, Qatar, Maldives, Bhutan, and the UAE.
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