Page Industries, an exclusive licensee of Jockey International Inc., said the gradual lifting of lockdown in the second half of June ended quarter resulted in better footfall in outlets and thus a consequent increase in sales volumes.
In Q1, the apparel manufacturer, reported revenue of ₹501.5 crore, up 76% compared to the corresponding period last year. The company’s net profit stood at ₹10.9 crore, up 128% YoY, in the quarter.
However, the company’s EBITDA margin for the quarter was low at 6.8%, mainly due to under absorption of wages, selling and corporate overheads. Its cash and cash equivalents increased to ₹ 3,27.1 crore, up 89% YoY, Page Industries said in a regulatory filing on Thursday.
MD Sunder Genomal said, “Despite unprecedented challenges posed by resurgence of the pandemic, we delivered YoY growth across all our segments. As an organisation we were better prepared owing to the learnings over the last year and were more agile to handle the challenges.’’
Despite half of the quarter being under lockdown for most cities and states, the company added 1,465 MBOs (multi brand outlets) and nine EBOs (exclusive brand outlets).
In Q1, Page Industries saw great demand and acceptance for its kids wear business, it further said.
e-com focus
The company said it was getting ready for an e-com push in the market in line with the pandemic-brought drastic changes in customer behaviour.
“Being aware of the shift of consumer preference towards e-commerce, we are well prepared and invested in our warehousing, technology and logistics support to cater to this increasing demand,’’ the company said.
