Page Industries Q4 results: PAT grows 38% YoY; Jockey brand-owner declares Rs 120/share dividend
Aided by improved sales, Page Industries-the owner of Jockey brand, logged a 3.2 per cent on-year growth in its revenue during the March quarter.
Bengaluru-headquartered Page Industries, which owns the popular innerwear brand Jockey, on Thursday reported a consolidated net profit of Rs 108.2 crore for the January-March period, up 38.1 per cent on a year-on-year basis.
Page Industries' revenue for the March quarter grew 3.2 per cent to Rs 995.4 crore, aided by sales volume growth of 6.1 per cent, according to a regulatory filing.
Zee Business research analysts had expected the innerwear and loungewear company to register a consolidated net profit of Rs 144 crore and revenue of Rs 1110 crore for the fiscal fourth quarter.
EBITDA at the company also logged an improvement and registered 24.5 per cent on-year growth to Rs 167.2 crore. The impact of investments in digital transformation and marketing initiatives was largely balanced by favourable input costs and operational expenses optimisation, said the company in its filing with the exchanges.
On the financial results, V.S. Ganesh, Managing Director, Page Industries said, “I am pleased to share that our strategic commitment to sustainable sales practices and meticulous inventory management has been instrumental in maintaining robust margins and enhanced profitability."
Focused efforts to optimize operational efficiency has also been pivotal in enabling us to achieve animpressive 38.1% growth in PAT for Q4, he added.
On the outlook for the industry, the company's release noted that it remains positive, driven by advances in fabric technology and a growing trend towards health-conscious and active lifestyles. Over the next decade, we expect significant growth in the athleisure market, This shift towards high-quality, functional apparel is set to enhance consumer engagement and drive demand in both urban and rural markets, it added.
Page Industries dividend for FY2024
On the sidelines of the results announcement, the company declared the fourth interim dividend for the fiscal year 2023-24, amounting to Rs 120 per share. For the same, the stock shall trade ex-dividend on May 31 i.e stock's price will adjust considering the dividend announcement on the ex-dividend date.
Earlier, the company had declared 3 interim dividends, amounting to Rs 100, Rs 75 and Rs 75 per share each for the FY ended 2024.
After the results, the company's shares were seen trading weak, down nearly 2 per cent at Rs 35,623 apiece on the BSE. The stock marked its fresh 52-week low of Rs 33,100 on March 20.
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