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Page Industries, the exclusive licensee for Jockey and Speedo in India, reported a 4% year-on-year increase in net profit to Rs 203 crore for the September quarter, supported by healthy volume growth and demand for new product launches, as shared in media reports. Revenue from operations rose 11.5% to Rs 1,440 crore during the quarter, compared with Rs 1,290 crore in the year-ago period.
Sales volumes increased 5.5% to 59.7 million pieces, with growth across product categories and sales channels.
Managing Director V.S. Ganesh said consumer demand remained upbeat during the quarter, although raw material costs continued to remain elevated. Cotton prices remained expensive and volatile, while crude-linked input costs were also higher than earlier levels.
Total expenses increased nearly 13% to Rs 1,182 crore, driven by an 11.5% rise in raw material costs. Despite the cost pressures, the company maintained profitability within its planned range through operational efficiencies and procurement strategies.
Shares of Page Industries declined 11% following the results.
Looking ahead, the company expects demand to improve during the festive season, supported by an expanded retail network, new product launches and increased manufacturing capacity. The company also declared a second interim dividend of Rs 150 per share.
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