You are here: Home » Companies » News
Business Standard

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.

Page Industries | Q4 Results

Press Trust of India  |  New Delhi 

The numbers don’t look better if lenders and insurance companies are excluded from the sample

Apparel manufacturer 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 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 Ltd on Thursday settled at Rs 31,839.95 on the BSE, up 0.01 per cent from their previous close.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, May 27 2021. 20:45 IST