[ad_1]
The announcement came as the company reported a 34.3% year-on-year rise in net profit for the third quarter ended December 31, 2024, to Rs 204.7 crore, driven by improved operating margins.
Page Industries said its revenue grew 7.1% YoY to Rs 1,313 crore in the third quarter, while EBITDA surged 33.6% YoY to Rs 302 crore during the same period.
Despite the strong earnings, Page Industries acknowledged headwinds in the Indian apparel retail sector, citing dampened consumer sentiment and an unsustained festive demand in the latter half of the quarter.
“The Indian apparel retail sector confronts short-term headwinds due to dampened consumer sentiment. Nonetheless, long-term growth prospects remain robust, propelled by economic expansion, urbanization, and rising disposable incomes. Athleisure and innerwear are poised as pivotal growth drivers, complemented by the proliferation of organized retail and e-commerce,” the company said in its exchange filing.
However, the company said it remains optimistic about long-term growth, backed by urbanization, rising disposable incomes, and the expansion of organized retail and e-commerce.Shares of Page Industries declined 2.3% following the results, reaching the day’s low at Rs 45,890 on the BSE. The stock is down 3% year-to-date but remains up 26% over the past year.Jockey is the company’s flagship brand and the brand is distributed in 2,710 cities & towns and is available in 1,10,176 multi-brand outlets, 1,436 exclusive brand stores (EBS) with extensive presence in 1,212 large format stores, as well as online.
Also read | Indian shares lag global markets in January, underperform over 12 months: Motilal Oswal
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
[ad_2]
Source link
