Page Industries Q3 results: Jockey's parent firm reports 23% increase in net profit, sales jump

Page Industries Q3 results: Page Industries, the parent company of the Jockey brand, announced its financial results for the October-December period (Q3 FY24) today, February 8. 
 
The company reported a 23.1 per cent year-on-year growth in profit after tax (PAT), amounting to Rs 152.4 crore. Zee Business analysts had estimated a PAT of Rs 155 crore for the quarter under review in comparison to Rs 124 crore clocked during the same quarter last year. 
 
The company achieved a revenue of Rs 1,228.8 crore, marking a year-over-year increase of 2.4 per cent. Meanwhile, the apparel maker's sales grew 4.6 per cent to Rs 5.52 crore in the third quarter of the financial year 2024 (Q3FY24).
 
Page Industries' EBITDA for the quarter was Rs 235.2 crore, a rise of 19.1 per cent over the coresponding period last year. The impact of investments in digital transformation and marketing initiatives was largely balanced by favourable input costs and operational expense optimisation.
 
The impact of expenditures in digital transformation and marketing campaigns was fully offset by lower input costs and improved operating expenses, the company said in a stock market filing on Thursday.
 
Commenting on the quarterly results, VS Ganesh, MD, Page Industries Limited, said, "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 stabilising 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 per cent growth in PAT for Q3."
 
Page Industries share price: Shares of Page Industries closed at Rs 36,719.45 apiece today, up 1.28 per cent or Rs 463.25 each on BSE.