Page Industries Limited, India’s leading apparel manufacturer, today announced its financial results for the quarter ended 30th June 2023, the company on Thursday announced through an exchange.

Financial Highlights for Q1FY24

i) Revenue at Rs 12,400 million, up 28 percent QoQ and down by 7.5 percent YoY.

ii) EBITDA at Rs 2,418 million, margins at 19.5 percent, up 79.7 percent QoQ and down by 18.8 percent YoY.

iii) Reported Profit After Tax at Rs 1,583 million; up 102 percent QoQ and down by 23.6 percent YoY.

iv) PAT margin at 12.8 percent, compares with 8.1percent QoQ and 15.4 percent YoY.

iv) Cash and cash equivalents at Rs 773 million up from 81 million at Q4 FY23.

“I am pleased to share that the initiatives taken have led to a substantiative margin recovery and the Company has reported 31% sequential volume growth in Q1. While our year-on-year revenues and volume growth remain challenged on the back of prevailing market conditions, we remain steadfast in our conviction that this is merely a transient phase,” said V.S. Ganesh, Managing Director.

Page Industries Limited shares

The shares of Page Industries on Thursday at 3:30pm IST were at Rs 40,300, up by 3.22 percent.

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