Page Industries added 1.60% to Rs 36,837.85 after the company reported 23.13% increase in net profit to Rs 152.35 crore on 2.4% rise in revenue from operations to Rs 1,228.77 crore in Q3 FY24 over Q3 FY23.
Profit before tax grew 22.87% year on year (YoY) to Rs 202.08 crore in the quarter ended 31 December 2023.EBITDA in Q3 FY24 was at Rs 235.2 crore, up 19.1% from Rs 192.8 crore posted in Q2 FY23. EBITDA margin improved to 18.7% in the December quarter as against 16.1% recorded in Q3 FY23. The impact of investments in digital transformation and marketing initiatives was largely balanced by favourable input costs and operational expenses optimisation, stated the garments manufacturer.
The apparels company witnessed a 4.6% YoY growth in sales volumes, amounting to 55.2 million pieces during the quarter under review.
Meanwhile, the company's board has declared a third interim dividend of Rs 100 per equity share for FY24. The record date for the same is fixed on 16 February 2024 and the dividend will be paid on or before 8 March 2024.
V.S. Ganesh, managing director of Page Industries, said, The company 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.
With respect to its outlook, the company said, Page Industries is strategically positioned for sustained growth while adapting to the shifting dynamics of retail and evolving consumer demands. Our approach to embracing operational improvements and digital innovations equips us to navigate these market complexities with confidence. We are focused on prioritising the expansion of our e-commerce platform and deepening D2C connections. These efforts are aimed at enhancing consumer access and experience, ensuring we stay ahead in a competitive landscape.
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 for the manufacture, marketing and distribution of the Speedo brand in India.
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