Apparels & Accessories company Page Industries announced Q3FY24 & 9MFY24 results: Financial Highlights for Q3FY24: Sales volumes witnessed a 4.6% YoY growth, reaching 55.2 million pieces. Revenue reached Rs 12,288 million, showing a year-over-year increase of 2.4%. EBITDA for the quarter amounted to Rs 2,352 million, marking a growth of 19.1% compared to the previous year, with healthy margins of 18.6%. The impact of investments in digital transformation and marketing initiatives was balanced by favorable input costs and operational expenses optimization. Profit After Tax (PAT) was Rs 1,524 million, indicating a significant increase of 23.1% compared to the same period last year, with PAT margins at 12.3%. Financial Highlights for 9MFY24: Revenue totaled Rs 35,863 million, reflecting a 4.4% decline, attributed to the subdued performance in the early part of the fiscal year. EBITDA recorded at Rs 7,051 million, with a slight 3.2% decline YoY. PAT stood at Rs 4,610 million, down by 6.5% YoY. Commenting on the results, V.S. Ganesh, Managing Director, Page Industries said, “I am pleased to share that the Company has successfully navigated the complexities of mixed demand trends in the retail sector, a landscape marked by a significant shift in consumer spending patterns. Our strategic commitment to sustainable sales practices and meticulous inventory management has been instrumental in robust margins and enhanced profitability. We have seen early signs of stabilizing revenue in Q3 on the back of our adaptive strategies in response to the market's evolving demands. Our concerted efforts to optimise operational efficiency, have been pivotal in enabling us to achieve an impressive 23.1% growth in PAT for Q3. With continued investments in expanding the distribution network and enhanced e-commerce capabilities, we are geared to seize long-term growth opportunities. We are well-positioned to continue this trajectory of growth, leveraging operational efficiencies and strategic investments to deliver value to our stakeholders.” Result PDF
Apparels & Accessories company Page Industries announced Q2FY24 & H1FY24 results: Q2FY24: EBITDA margin achieved was 20.8% despite sluggish demand as reflected in YoY lower sales volume and value by 8.8% and 8.4% respectively. Sales volume was 51.8 million pieces, and sales revenue was Rs 11,251 million. EBITDA was Rs 2,335 million lower by 1.8% YoY Profit after Tax was Rs 1,503 million, lower by 7.3% YoY PAT margin is 13.4% H1FY24: H1FY24 revenue at Rs 23,575 million, down 7.6% YoY EBITDA was Rs 4,754 million, down 11.2% YoY Profit after tax was Rs 3,086 million, degrowth of 16.4% YoY Commenting on the results, V.S. Ganesh, Managing Director, Page Industries said, “Despite prevailing macro headwinds and market conditions, operational efficiency and stable raw material costs have ensured robust EBITDA margin of 20.8% in Q2. We firmly believe these challenges are transient and continue to invest in technology, enhancing brand awareness, and expanding our market presence, while ensuring a healthy operating margin. We continue to focus on sustainable sales practices while taking measures to optimize inventory. Result PDF