Page Industries Ltd (PIL), the exclusive licensee of JOCKEY International Inc. (USA), reported a 7.3% year-on-year decline in net profit to Rs. 189.53 crore (US $ 20.89 million) for the December quarter of FY ’26, weighed down by one-time costs associated with the implementation of the new Labour Codes.
During the quarter under review, the apparel manufacturer recorded an exceptional loss of Rs. 35 crore (US $ 3.86 million), primarily on account of provisions related to the new labour regulations.
Excluding exceptional items, profit before tax rose 5.92% year-on-year to Rs. 291.25 crore (US $ 32.10 million). The company reported a 1.4% increase in sales volume during the quarter, with volumes reaching 58.6 million pieces, according to its earnings statement.
Revenue from operations increased to Rs. 1,386.75 crore (US $ 153 million) in the third quarter, compared with Rs. 1,313.05 crore (US $ 144 million) in the corresponding period of the previous financial year. Total income, including other and finance income, stood at Rs. 1,399.19 crore (US $ 154 million), representing a year-on-year growth of 5.43%.
Page Industries is the exclusive licensee of JOCKEY International Inc. (USA) across several markets, including India, Sri Lanka, Bangladesh, Nepal, Oman, Qatar, the Maldives, Bhutan and the United Arab Emirates.
The company’s management said the decline in profit after tax was attributable to one-time exceptional provisions following the notification of the new Labour Codes. It added that strong consumer response to recent product launches, along with a continued focus on operational efficiencies and sustained investments in digital initiatives and brand building, were expected to support faster growth and reinforce the company’s leadership position in the period ahead.
