Page Industries’ profit zooms in Q1 on strong sales

Ebitda margin was 22.2%, compared to 24%. Cash and cash equivalents rose to Rs 314.4 crore during the quarter, up from Rs 283.5 crore in Q4FY22.

Page Industries’ profit zooms in Q1 on strong sales
Operating efficiencies boosted Ebitda (earnings before interest, taxes, depreciation, and amortisation) 771% y-o-y to Rs 297.8 crore from Rs 34.2 crore.

Apparel manufacturer Page Industries’ profit after tax (PAT) soared 1,791% y-o-y for the quarter ended June 30, to Rs 207 crore from Rs 10.9 crore in the same period of the previous fiscal, on the back of a strong sales performance.

The company posted a 167% jump in revenue to Rs 1,341.3 crore, compared to Rs 501.5 crore in the corresponding period of the last fiscal, it said in regulatory filings. Operating efficiencies boosted Ebitda (earnings before interest, taxes, depreciation, and amortisation) 771% y-o-y to Rs 297.8 crore from Rs 34.2 crore. Ebitda margin was 22.2%, compared to 24%. Cash and cash equivalents rose to Rs 314.4 crore during the quarter, up from Rs 283.5 crore in Q4FY22.

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Managing director VS Ganesh said despite external challenges, the company has successfully delivered a milestone performance due to robust financial planning.“Our roadmap of capacity augmentation and retail expansion will lead us to this vision and continue this momentum. We remain optimistic of the thriving market for our products and by banking on our pillars of quality, cost, product design and customer outreach. Our strategy of introducing kids’ wear across exclusive women’s wear stores has shown good results and we are confident of making inroads into this nascent and fast-growing segment,” Ganesh said.

Page Industries is the exclusive licensee for manufacture, distribution and marketing of JOCKEY International (USA) in India, Sri Lanka, Bangladesh, Nepal, Oman, Qatar, Maldives, Bhutan and UAE, and Speedo International in India. On Thursday, the stock of Page Industries jumped by Rs 651.05 to Rs 49,122.05 from the previous close of Rs 48,471on BSE.

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