Page Industries Q1 net profit at Rs 10.94 cr; revenue up 76% to Rs 501 cr

Apparel manufacturer Page Industries Ltd (PIL) on Thursday reported a net profit of Rs 10.94 crore for the quarter ended June 2021.

The company had posted a net loss of Rs 39.55 crore during the April-June period a year ago, PIL said in a BSE filing.

Revenue from operations rose 76.08 per cent to Rs 501.53 crore during the quarter under review as against Rs 284.82 crore in the corresponding period of the previous fiscal.

PIL's total expenses were at Rs 490.57 crore, up 42.91 per cent from Rs 343.25 crore earlier.

PIL Managing Director Sunder Genomal said the company has delivered YoY growth across all its segments despite unprecedented challenges posed by the resurgence of the pandemic.

Being aware of the shift of consumer preference towards e-commerce, Page Industries is well prepared and has invested in 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," he said.

Bengaluru-based Page Industries is the exclusive licensee of American underwear brand Jockey International in countries such as India, Sri Lanka, Bangladesh, Nepal, UAE, Oman and Qatar. PIL is also the exclusive licensee of Speedo International for India.

On the outlook, Genomal said: "With our focused approach on our core business verticals, we remain confident of maintaining growth backed by our continued efforts on innovation and investments."

Shares of Page Industries Ltd on Thursday settled at Rs 32,453.65 on BSE, down 1.61 per cent from its previous close.