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Indian apparel firm Page Industries Q1 EBITDA jumps to ₹342 cr

Aug '21
Pic: Page Industries
Pic: Page Industries
Page Industries Ltd, India's leading apparel manufacturer, reported 76.1 per cent revenue hike to ₹501.5 crore in first quarter (Q1) of FY22 ended June 30, 2021, against ₹284.8 crore in same period last year. The company’s profit for the period escalated to ₹10.9 crore (Q1 FY21: loss ₹39.5 crore), while EBITDA grew to ₹342 crore (loss: ₹347 crore).
“Despite half of the quarter being under lockdown for most cities and states, we could successfully add 1,465 MBOs and 9 EBOs during these three months. We remain focused on profitable partnerships with our distributors while continuing expansion,” Sunder Genomal, managing director at Page Industries, said in a press release.
Gross profit expanded to ₹166.7 crore (₹65.4 crore), while profit after tax rose to ₹10.9 crore (loss: ₹39.6 crore).
“Being aware of the shift of consumer preference towards e-commerce, we are well prepared and invested in our warehousing, technology and logistics support to cater to this increasing demand. During the quarter, we also saw great demand and acceptance for our kids wear business which continues to be an important area for us going forward,” Genomal added.
“With our focused approach on our core business verticals, we remain confident of maintaining growth backed by our continued efforts on innovation and investments,” Genomal concluded in the release.

Fibre2Fashion News Desk (JL)

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