'Page Industries' posts Rs 10.9 crore profit in Q1FY22
19th August 2021, Mumbai:
In Q1 FY22 India's leading apparel manufacturer Page Industries posted a profit of Rs 10.9 crore as against Rs 39.5 loss posted in Q1 FY21. The company’s revenues increased by 76.1 per cent revenue to Rs 501.5 crore during the quarter ended June 30, 2021, against Rs 284.8 crore in same period last year.
Its EBITDA grew to Rs 342 crore against a loss of 347 crore in the corresponding quarter last fiscal.
Despite half of the quarter being under lockdown for most cities and states, the company added 1,465 MBOs and 9 EBOs during these three months.Gross profit expanded to Rs 166.7 crore while profit after tax rose to Rs 10.9 crore.
The company is investing in its warehousing, technology and logistics support to cater to this increasing demand. During the quarter, it also saw great demand and acceptance for its kids wear business and hopes to maintain the growth momentum, says Sundar Genomal, Managing Director.
YouTube Channel https://www.youtube.com/c/DFUPublications/videos
TOP 5:
- Cotton Corporation of India Ltd (CCI) market intervention meaningless till cotton prices rule firm
- Flipkart, an Indian e-commerce behemoth, has created 4,000 new positions
- Rs. 1,100 crore investment! SVP Global Ventures, an Indian textile company, has opened a facility in Oman
- In the current fiscal year, Indian textile exporters are expected to expand by 20-25 percent, according to ICRA
- In July, apparel sales in India were at 63 percent of pre-pandemic levels
