Page Industries Q2 net marginally up to Rs 162 cr; revenue at Rs 1,255 cr

Apparel manufacturer Page Industries Ltd on Thursday reported a marginal increase in its net profit at Rs 162.12 crore in the second quarter ended September 2022.

The company had posted a net profit of Rs 160.48 crore during the July-September period a year ago, Page Industries Ltd (PIL) said in a BSE filing.

Its revenue from operations during the quarter under review was at Rs 1,255.01 crore, up 15.77 per cent.

PIL's revenue from operations in the July-September quarter of FY22 stood at Rs 1,084.01 crore.

Its total expenses in the September quarter were at Rs 1,045.14 crore, up 19.5 per cent.

Managing Director V S Ganesh said: "We are pleased to report that historically, this has been the best Q2 for the company in terms of revenue."

"We are well in line with our guidance of delivering robust growth on the back of strong levers such as increased shift in organised retail, increased branded innerwear demand and growing aspirations for global brands," he added.

Meanwhile, in a separate filing, PIL said its board at its meeting held on Thursday has declared a second interim dividend of Rs 70 per equity share for FY23.

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 48,893.20 on BSE, down 1.36 per cent from previous close.