Apparel & accessories firm Page Industries announced Q2FY23 results: Revenue at Rs 12,550 million; up 16% YoY and down 6% QoQ EBITDA at Rs 2,379 million, margins at 19.0%, up 2% YoY and down 20% QoQ, with an investment of opex in advertising, warehouse capacity and manpower Reported profit after tax at Rs 1,621 million; up 1% YoY and down 22% QoQ PAT margin at 12.9%, compared to 14.8% YoY and 15.4% QoQ. Cash and cash equivalents at Rs 833 million, down from 3,144 million in Q1FY23, with investment in inventory which was under strain during the pandemic. Liquidity continues to remain strong with robust cash flow Managing Director VS Ganesh said, “We are pleased to report that this has been the best Q2 for the company historically, in terms of revenue. We are well in line with our guidance of delivering robust growth on the back of strong levers such as increased shift in organised retail, increased branded innerwear demand and growing aspirations for global brands. The company will continue to invest in capacity building, manpower, business process re-engineering, digital outreach and advertising while building inventory. With a strong focus in the fast-growing Tier 2-3-4 markets and with new product introductions to further strengthen our product portfolio, we see a huge opportunity for retail expansion and growth as we move forward.” Result PDF