One of the leading Indian apparel manufacturers, Page Industries Limited, has released its financial results for the first quarter that concluded on 30th June 2024.
The company has reported that sales volume grew 2.6 per cent Y-o-Y, amounting to 57.4 million pieces. Revenue was at Rs. 12,775 million, a 3.9 per cent increase Y-o-Y. EBITDA was at Rs. 2,433 million, margin at 19 per cent and sequential growth of 2.5 per cent. The impact of investments in digital transformation and marketing initiatives was largely balanced by stable input costs and operational expenses optimisation. Profit After Tax (PAT) stood at Rs. 1,652 million, a 4.3 per cent increase Y-o-Y.
Commenting on the results, V.S. Ganesh, Managing Director, Page Industries Limited said, “I am pleased to announce that our dedicated efforts to enhance the inventory health of our distributors have significantly boosted the overall efficiency of our business. 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 capitalise on it.”
Page Industries is the exclusive licensee of JOCKEY International Inc. (USA) for the manufacture, distribution and marketing of the JOCKEY® brand in India, Sri Lanka, Bangladesh, Nepal, Oman, Qatar, Maldives, Bhutan and UAE. Page Industries is also the exclusive licensee of Speedo International Ltd. for the manufacture, marketing and distribution of the Speedo brand in India.
Jockey is the company’s flagship brand and a market leader in the premium innerwear and leisure wear category. The brand is distributed in 2,713 cities and towns and available in 1,04,696 Multi Brand Outlets, 1,395 Exclusive Brand Stores (EBS) with extensive presence in 1,137 Large Format Stores, as well as online. Speedo brand is available in 764 stores and 33 EBOs, spread across 150+ cities.
