Page Industries Q4 net profit rises about 4-folds to Rs 115.56 cr

Apparel manufacturer Page Industries Ltd (PIL) on Thursday reported nearly four-fold jump in its net profit at Rs 115.56 crore for the fourth quarter ended March 2021.

The company had posted a net profit of Rs 31.02 crore during the January-March period a year ago, PIL said in a BSE filing.

Revenue from operations rose 62.72 per cent to Rs 880.76 crore during the quarter under review as against Rs 541.28 crore in the corresponding period of the previous fiscal.

Commenting on the results, PIL Managing Director Sunder Genomal said the company has witnessed a "strong demand pick-up" across all its product categories.

"Although the year started on a challenging note, we were quick to implement our business continuity plans resulting in one of the best quarter performances for the company in its history," he said.

PIL's total expenses were at Rs 733.69 crore in Q4 FY 2020-21, up 44.4 per cent from Rs 508.10 crore in the year-ago period.

However, for the fiscal year, which ended on March 31, 2021, PIL reported a marginal decline in its net profit to Rs 340.58 crore. It has a net profit of Rs 343.22 crore in the previous year.

Its revenue from operations was down to 3.82 per cent to Rs 2,832.96 crore in FY 2020-21. It was Rs 2,945.54 crore in FY 2019-20.

Over the outlook, Genomal said: "We continue to remain very confident of our medium to long term prospects."

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

PIL is also the exclusive licensee of Speedo International for India.

Shares of Page Industries Ltd on Thursday settled at Rs 31,839.95 on the BSE, up 0.01 per cent from their previous close.