Page Industries posts 44% sales growth for September-ended quarter

Page Industries Ltd. Bangalore, the exclusive licensee of Jockey International Inc. (USA), today announced its financial results for the quarter ended September 30, 2010.

The company recorded strong sales of Rs. 126.42 crore for the quarter ended September 30, 2010, an increase of 44 % from Rs. 87.52 crore in the corresponding quarter last year.

The net profit after tax was Rs 16.36 crore, a growth of 55% for the same period.

The company has registered a CAGR of 36 % in Sales and 33 % in Profit after tax over the last three financial years demonstrating a steady and robust growth.

The high point of this quarter has been the “International Licensee of the Decade” award that Page Industries received from Jockey USA. The award has been given for the first time in the history of Brand Jockey to a licensee, primarily for recording highest growth among 120 countries consistently besides maintaining exemplary quality standards across all operations.

During this quarter Page Industries also launched a new retail format - ‘Jockey Woman’, the first ‘for women only’ Jockey Exclusive Store in India. The ‘Jockey Woman’ store is located at South Extension I, the upscale neighbourhood in South Delhi.

Commenting on the company’s performance Mr. Sunder Ashok Genomal- Managing Director, Page Industries Ltd said, "We are pleased that Page Industries has delivered yet another strong quarter, with increased revenue growth that has exceeded our expectations. This is a result of a consistent endeavour to be a world-class enterprise. We will continue our efforts to be known for exemplary quality and a wide range of products in India. I would like to thank our customers, employees, business partners, and shareholders for their continued support and confidence in the brand. We are very excited and confident about the future."

Jockey products are retailed through 62 exclusive brand outlets and 18,000+ retail stores in 1,200 cities and towns across India.

As on September 30, 2010, Page Industries Ltd. had over 11,000 employees and a production capacity of 80 million pieces per annum, spread over four state-of-the-art manufacturing complexes occupying a combined area of 6,20,000 sq. ft.

About Page Industries Ltd

Page Industries Ltd. is the exclusive licensee of Jockey International Inc. (USA) for manufacture and distribution of the Jockey brand of inner wear and leisure wear for men and women in India, Sri Lanka, Bangladesh, Nepal and UAE. Page Industries distributes through 18,000 retail outlets in 1,200 cities and towns across India.