Page Industries Limited on Thursday posted its fiscal fourth quarter earnings with profit at Rs 108.20 crore, up 38.1 per cent in comparison to Rs 78.35 crore during the corresponding quarter of FY23. It recorded revenue from operations at Rs 995.35 crore, up 3.2 per cent as against Rs 964.59 crore during the same period last year. The company EBITDA was at Rs 167.20 crore, up 24.5 per cent over the previous year.
The company board declared a fourth interim dividend 2023-24 of Rs 120 per equity share. “As informed earlier, the record date fixed for the payment of interim dividend is 31 May 2024. The date fixed for payment of dividend is on or before 22 June 2024,” it said.
The company’s sales volume grew by 6.1 per cent, amounting to 45.3 million pieces. In a statement, the company said that the impact of investments in digital transformation and marketing initiatives was largely balanced by favourable input costs and operational expenses optimisation.
For the full year, Page Industries recorded revenue at Rs 4581.70 crore, down 2.8 per cent owing to the subdued performance in the first half of the fiscal year. PAT for FY24 stood at Rs 569.20 crore, at par with FY23.
VS Ganesh, Managing Director, Page Industries Limited, said, “I am pleased to share that our strategic commitment to sustainable sales practices and meticulous inventory management has been instrumental in maintaining robust margins and enhanced profitability. Focused efforts to optimize operational efficiency has also been pivotal in enabling us to achieve an impressive 38.1 per cent growth in PAT for Q4.”
“Our adaptive strategies including enhancing supply chain productivity and modernizing our distribution management system in response to the market’s evolving demands have shown early signs of stabilizing revenue this quarter, despite challenges due to generally subdued market conditions. Our ecommerce channel continues to drive substantial growth, reflecting evolving consumer purchasing behaviour. With continued investments in our strategic drivers, we are well-positioned to seize long term opportunities of growth,” he added.