Page Industries Limited, exclusive licensee of JOCKEY International Inc. announced its financial results for the third quarter and nine months ended December 31, 2023.
The company witnessed a 4.6 pc YoY growth in sales volumes,amounting to 55.2 million pieces. Revenue achieved Rs. 12,288 million, marking a year-over-year increase of 2.4 pc
EBITDA for the quarter was Rs. 2,352 million, a growth of 19.1 pc over the previous year, reflecting healthy margins of 18.6 pc . The impact of investments in digital transformation and marketing initiatives was largely balanced by favorable input costs and operational expenses optimisation.
Profit After Tax (PAT) was Rs. 1,524 million, a significant increase of 23.1 pc compared to the same period last year, with PATmargins at 12.3 pc .
The revenue amounted to Rs. 35,863 million, reflecting a 4.4 pc decline, which can be attributed to the subdued performance in the early part of the fiscal year. EBITDA recorded at Rs. 7,051 million, with a slight 3.2 pc decline YoY.
PAT stood at Rs. 4,610 million, down by 6.5% YoY
Commenting on the results, VS Ganesh, Managing Director, Page Industries Limited said, “I am pleased to share that theCompany has successfully navigated the complexities of mixed demand trends in the retail sector, a landscape marked by a significant shift in consumer spending patterns. Our strategic commitment to sustainable sales practices and meticulous inventory management has been instrumental in robust margins and enhanced profitability. We have seen early signs of stabilizing revenue in Q3 on the back of our adaptive strategies in response to the market’s evolving demands. Our concerted efforts to optimise operational efficiency,have been pivotal in enabling us to achieve an impressive 23.1% growth in PAT for Q3.”
“With continued investments in expanding the distribution network and enhanced e-commerce capabilities, we are geared to seize long-term growth opportunities. We are well-positioned to continue this trajectory of growth, leveraging operational efficiencies and strategic investments to deliver value to our stakeholders,” Ganesh added.
Page industries is the exclusive licensee of JOCKEY International Inc. (USA) for manufacture, distribution and marketing of the JOCKEY brand in India,Sri Lanka, Bangladesh, Nepal, Oman, Qatar, Maldives, Bhutan and UAE. Page Industries is also the exclusive licensee of Speedo International Ltd. for the manufacture, marketing and distribution of the Speedo.
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