Page Industries Q2 profit jumps 30% on strong Jockey athleisure demand
08 November 2024, Mumbai
Page Industries, the exclusive licensee for Jockey and Speedo in India, recorded a solid 30 per cent increase in Q2 profit, fueled by rising demand for premium athleisure products. For the quarter ending September 30, the company’s profit reached Rs 1.95 billion, up from Rs 1.5 billion a year prior. Revenue climbed 11 per cent to Rs 12.46 billion, with the EBITDA margin improving to 22.6 per cent from 20.5 per cent.
While inflation and subdued discretionary spending have impacted Indian retailers, Page Industries capitalized on urban demand for high-end products. Analysts highlighted a shift in consumer behavior, with Indians increasingly investing in fitness, boosting the athleisure segment. Stable input costs and operational efficiencies further bolstered the company’s earnings.
As the festive season unfolds, Managing Director VS Ganesh expects heightened consumer interest. The company announced an interim dividend of Rs 250 per share for FY 2025. Following the results, Page Industries shares rose by up to 2 per cent to Rs 45,063. Meanwhile, competitors Shoppers Stop and Trent faced mixed performances, with Shoppers Stop reporting losses and Trent posting its slowest growth in 14 quarters.
