Indian apparel firm Page Industries' profit jump 45% in second quarter

27 Nov '21

2 min read

Pic: Jockey

Page Industries Ltd, India's leading apparel manufacturer and the exclusive licensee of Jockey International, has reported a 46.4 per cent revenue jump to ₹10,840 million in the second quarter (Q2) of FY22 ended on September 30, 2021, over the corresponding period of last fiscal. Profit after tax for the quarter expanded 45.0 per cent to ₹1,605 million (Q2 FY21: ₹1,109 crore).

“As we announce our highest-ever revenue and PAT this quarter, we remain confident to deliver on the long-term growth prospects of the company. I am pleased to share that the sales momentum has picked up significantly after the setbacks of the global pandemic,” Sunder Genomal, managing director at Page Industries, said in a press release.

“We saw increased momentum in sales across all our product categories backed by expansion in our portfolio and existing network. We are well poised and remain optimistic on delivering sustainable growth in the foreseeable future,” Genomal added.

During Q2, the company added 13,950 multi brand outlets and 54 exclusive brand outlets to feed the robust demand in the three-month period.

The premium innerwear and athleisure marketer’s EBITDA surged to ₹2,334 million (₹1,654 million), while profit before tax totalled to ₹2,148 million (₹1,459 million).

“E-commerce continues to witness an increasing trend and our investments in warehousing, technology and logistics support helped not only in strong execution but also on delivering on profitable growth,” Genomal concluded. “With a strong and proven business model, wide product portfolio, efficient financial management and a very loyal customer base, we remain committed to continue creating value for our stakeholders.”

Fibre2Fashion News Desk (JL)

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