Page Industries Q2 results: Profit up 30% on strong volume growth

Apparel manufacturer Page Industries Ltd has reported a 30 per cent increase in net profit at Rs 195.25 crore for the second quarter ended September 2024 helped by volume growth, stable input costs and improved operating efficiency.

The company had posted a net profit of Rs 150.27 crore during the July-September period a year ago, according to a filing from Page Industries Ltd (PIL) on Thursday.

Its revenue from operations was up 11.06 per cent to Rs 1,246.27 crore in the September quarter of this fiscal. It was at Rs 1,122.11 crore in the corresponding period a year ago.

The "sales volume grew 6.7 per cent YoY, amounting to 55.2 million pieces," PIL said in its earnings statement.

Moreover, stable input costs and improved operating efficiency contributed to significant growth in operating profit, it added.

Total expenses of Page Industries was at Rs 998.34 crore, up 7.54 per cent in the September quarter.

The total income, which includes other income and finance income, was at Rs 1,260.82 crore, up 11.9 per cent in the September quarter.

"Our operating margins remain strong, thanks to our focus on operational efficiencies, cost control, and strategic sourcing initiatives," Managing Director V S Ganesh said.

Ganesh further noted that "we are committed to investing in future growth, and our digital transformation initiatives are progressing well, promising substantial operational benefits in the coming years. The dynamic eCommerce landscape has driven exciting growth, bolstered by our prior investments and meticulous preparations".

Page Industries is the exclusive licensee of Jockey International Inc (USA) for manufacture, distribution, and marketing in India, Sri Lanka, Bangladesh, Nepal, Oman, Qatar, Maldives, Bhutan, and the UAE.

It is also the exclusive licensee of Australian-British swimwear and swim-related accessories maker Speedo International for the Indian market.

Shares of Page Industries Ltd were trading at Rs 47,674 on BSE, up 5.69 per cent from the previous close.