Jockey licensee Page Industries posts 65% jump in Q4 net profit

by 5paisa Research Team Last Updated: 2022-05-26T19:52:56+05:30

Page Industries, which is best known for selling innerwear and other products under the Jockey and Speedo labels, posted strong earnings growth for the fourth quarter ended March 31, 2022 backed by higher revenues and lower operating expenses compared with the year-ago period.

Page Industries reported a net profit of Rs 190.5 crore in the last quarter, up 65% from Rs 115.6 crore in the corresponding quarter the previous year. On a sequential basis, net profit rose 9.1%.

Net sales shot up 26.2% to Rs 1,111.1 crore from Rs 880.8 crore in Q4 FY21. On a sequential basis, revenue was down by 6.6%.

The company, one of the most valued apparel and garment manufacturers in the country, saw its share price move up 0.68% in a strong Mumbai market on Thursday. The company declared its financials after trading stopped for the day.

Other Highlights

1) EBITDA rose 57.3% to Rs 267.1 crore in Q4 from Rs 169.8 crore a year ago.

2) On a sequential basis, EBITDA rose 6.5% in Q4 versus Q3.

3) EBITDA margin shot up from 19.3% in Q4 FY21 and 21.1% in Q3 FY22 to 24% last quarter.

Management Commentary

Sunder Genomal, Managing Director of Page Industries, said the sales momentum picked up significantly across all its product categories backed by expansion in its portfolio and existing network.

“We are well poised on a growth trajectory and remain optimistic on delivering sustainable growth over the long-term. All product categories and channels continue to witness an increasing trend and our investments in leadership, product innovation, warehousing, technology and logistics support helped not only in strong execution but also in delivering profitable growth,” he said.

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