Page Industries Q1 results: Net profit rises 22%, EBITDA jumps 21%; company announces dividend of ₹150/share

Page Industries, maker of innerwear and exclusive licensee of Jockey International in India, on Thursday, August 7, reported a net profit of ₹201 crore in the first quarter of current financial year, marking an upside of 22% from ₹165 crore in the same period last year.

Its revenue from operations rose 3% annually to ₹1,317 crore in April-June period from ₹1,278 crore in the same period last year.

Page Industries reported stable operational performance as its operating profit also known as earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 21% to ₹296 crore and its operating profit margin improved by 340 basis points to 22.46%.

The company announced its first interim dividend of ₹150 per share for the current financial year.

“I am happy to share that we have achieved PAT growth 21.5% in the quarter. We continue to expand our consumer reach, pursue several product innovation and process automation initiatives while focussing on optimum market investments and cost efficiency measures," said VS Ganesh, Managing Director, Page Industries.

During the quarter, company's sales volume rose at 1.5% annually to 58.6 million pieces.

Consumption patterns this quarter was subdued affecting tertiary sales growth. Shift in festive consumption in the month of April when compared to last year and heightened geo-political tension in early parts of May partly contributed to the same, Page Industries said in a press release.

It is however encouraging to note a steady recovery month on month. Our online business continues to deliver robust growth. With our product pricing remaining unchanged, our focus and efforts have been to maintain operating margins through efficient raw material sourcing, optimum manpower deployment, focussed marketing investments and digital transformation. Our long term fundamentals remain strong and we are confident of a consistent growth trajectory in the coming quarters, the Bengaluru-based company added.

The company launched a new w fashionable range of products under JKY Groove on jockey.in and select EBOs in the country addressing a younger target audience. The initial response to the collection has been very encouraging, the company said.

Page Industries shares ended 1.06% lower at ₹45,770, underperforming the SENSEX which ended 0.1% higher.