Page Industries Q2FY22 Results: Profit up 45% to Rs 160 crore

 Apparel manufacturer Page Industries Ltd on Thursday reported 44.76 per cent rise in net profit at Rs 160.48 crore for the second quarter ended September 30, 2021. The company had posted a net profit of Rs 110.86 crore during July-September period a year ago, Page Industries Ltd (PIL) said in a BSE filing.

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Revenue from operations was up 46.43 per cent to Rs 1,084.01 crore during the quarter under review as against Rs 740.30 crore in the corresponding period of the previous fiscal year.

Total expenses were at Rs 874.54 crore as against Rs 598.11 crore in the year-ago period.

As we announce our highest-ever revenue and PAT this quarter, we remain confident to deliver on the long-term growth prospects of the company,? PIL Managing Director Sunder Genomal said.

The sales momentum has picked up significantly after the setbacks of the pandemic, he said.

We saw increased momentum in sales across all our product categories backed by expansion in our portfolio and existing network. We are well poised and remain optimistic on delivering sustainable growth in the foreseeable future, said Genomal.

E-commerce continues to witness an increasing trend and PIL's investments in warehousing, technology and logistics support helped not only in strong execution but also in delivering on profitable growth.

With a strong and proven business model, wide product portfolio, efficient financial management and a very loyal customer base, we remain committed to continue creating value for our stakeholders,? he said.

Shares of Page Industries Ltd on Thursday settled at Rs 40,100.10 apiece, up 0.85 per cent from the previous close on BSE.