Jockey India licensee posts 9% in quarterly profit on premium push
BENGALURU, May 21 (Reuters) - Page Industries PAGE.NS, the Indian licensee of Jockey International, reported a 9% rise in fourth-quarter profit on Thursday, as steady demand for innerwear helped offset cost pressures.
Here are the details:
The company posted a net profit of 1.79 billion Indian rupees ($18.58 million) for the three months ended March 31, compared with 1.64 billion rupees a year earlier.
Revenue from operations rose to 12.53 billion rupees, up from 10.98 billion rupees a year earlier.
Growth was supported by higher demand for value-added and premium products, as well as expansion in outerwear, which helped lift average selling prices, the company added.
However, margins came under some pressure from higher input costs, particularly for cotton.
Total expenses were driven up by higher employee costs and increased spending on raw materials.
Page Industries declared a fourth interim dividend of 150 rupees.
The company flagged persistent inflationary pressures on key raw materials, particularly cotton, though it remains optimistic about growth, citing improving consumer sentiment and continued retail modernisation.
($1 = 96.3500 Indian rupees)
