Page Industries Q1 Profit Up 4% to Rs 165 Cr, Revenue Rises

New Delhi, Aug 8 (PTI) Apparel manufacturer Page Industries Ltd on Thursday said its net profit increased 4.33 per cent to Rs 165.22 crore in the first quarter ended June 2024, helped by growth in sales volume and strong operating margins.

The company had posted a net profit of Rs 158.35 crore during the April-June period a year ago, according to a filing from Page Industries Ltd (PIL).

Its revenue from operations was up 4 per cent to Rs 1,277.51 crore in the June quarter of this fiscal. It was at Rs 1,229.07 crore in the corresponding period last fiscal.

In the latest June quarter, Page Industries' "sales volume grew 2.6 per cent YoY" the company said an earnings statement.

Page Industries' expenses in the June quarter increased 4.26 per cent to Rs 1,067.95 crore.

Managing Director V S Ganesh said: "We have successfully maintained strong operating margins while simultaneously advancing several digital transformation initiatives, enhancing consumer engagement, and investing in technology.

"Our exciting expansion and developments in the e-commerce space continue to drive substantial growth in this channel. We remain optimistic about the resurgence of demand in the upcoming quarters and are well-prepared to capitalize on it," he said.

Page Industries is the exclusive licensee of Jockey International Inc (USA) for manufacturing, distribution, and marketing in India, Sri Lanka, Bangladesh, Nepal, Oman, Qatar, Maldives, Bhutan, and the UAE.

It is also the exclusive licensee of Speedo International for the Indian market.

Shares of Page Industries Ltd settled at Rs 37,658.90 on BSE, down 1.49 per cent from the previous close.