You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Page Ind slips on temporary suspension of operations in Karnataka

Capital Market 

Page Industries fell 1.09% to Rs 29,614.80 after the company said it has temporarily suspended its manufacturing and operations in Karnataka with effect from 30 April 2021, due to the re-emergence of COVID-19 cases.

Warehouses, elastics, raw material stores and other required departments including support functions will operate with minimum required number of employees by strictly following the COVID-19 guidelines.

The duration of the temporary suspension will depend upon improvement in the situation and health advisory by the Government of India. Since, the manufacturing facilities been shut down temporarily there will be an impact on production volumes during this period, the firm said.

"We have enough inventory levels to carry us into the next couple of months. When the lockdown is lifted, Manufacturing & Operations will be commence immediately with full capacity," it added.

The apparel maker's net profit jumped 76.6% to Rs 153.70 crore on a 16.8% rise in net sales to Rs 927.06 crore in Q3 FY21 over Q3 FY20.

Page Industries is the exclusive licensee of JOCKEY International Inc. (USA) for manufacture, distribution and marketing of the JOCKEY brand in India, Sri Lanka, Bangladesh, Nepal and the UAE.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and 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: Fri, April 30 2021. 09:24 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU