Page Industries turns the page on inflation; bookmarks expansion

Sharp stock rebound, however, caps upside from current levels

Notwithstanding inflationary pressures, the country’s largest innerwear maker, Page Industries, posted better-than-expected performance in the April-June quarter (first quarter, or Q1) of 2022-23 (FY23). Higher volumes and operating leverage helped the exclusive licensee in India and neighbouring countries of US-based Jockey log its highest-ever quarterly revenue and net profit.

In response to the results and a strong outlook, the stock hit an all-time high on Friday, before ending the day marginally higher at Rs 49,192 per share.

The all-round beat in the Q1 performance was led by revenue growth - up 167 per cent on a low base - to