Page Industries Ltd. on November 9 reported a consolidated net profit of Rs 150.27 crore for the September quarter of FY24, declining 7.3 percent compared to Rs 162.12 in the year-ago period.
Total revenue of the company came in at Rs 1,125.13 crore, falling 8.39 percent from Rs 1,228.20 crore in the year-ago quarter, the company said in a regulatory filing.
Earnings before interest, tax, depreciation and amortization (EBIDTA) for the quarter was at Rs 233.4 crore declining by 1.9 percent YOY. The EBIDTA margin was 20.7 percent versus 19 percent YOY.
"We firmly believe these challenges are transient and continue to invest in technology, enhancing brand awareness, and expanding our market presence, while ensuring a healthy operating margin. We continue to focus on sustainable sales practices while taking measures to optimise inventory." said V.S. Ganesh, Managing Director, Page Industries Limited.
Outlook
The company's growth strategy remains steadfast, with a focus on sustainable, long-term expansion. This approach is built on improving consumer experiences, diversifying the company's product offerings, enhancing operational efficiency, and embracing digital transformation. The company is dedicated to strengthening the company's market position and preserving operational profitability through disciplined cost management and optimizing the company's supply chain. The company's distribution network expansion plans are progressing as planned, with a strategic emphasis on major cities as well as tier 2 and 3 locations. Additionally, the company is committed to bolstering the company's online presence through E-commerce, aligning with changing consumer shopping preferences.
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 brand in India.
The shares of the company were trading at 1.05 percent higher at Rs 38,278 as of 1:58 pm on NSE.
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