Page Industries Limited, India’s leading apparel manufacturer, has witnessed a 4.6 year-over-year (YoY) growth in sales volumes in the third quarter (Q3) of fiscal 2024 (FY24), amounting to 55.2 million pieces. In the third quarter, the company achieved revenue of ₹12,288 million, marking a YoY increase of 2.4 percent.
EBITDA for the quarter was ₹2,352 million, a growth of 19.1 percent over the previous year, reflecting healthy margins of 18.6 percent. The impact of investments in digital transformation and marketing initiatives was largely balanced by favourable input costs and operational expenses optimisation, the company said in a press release.
“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 stabilising 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 percent growth in PAT for Q3,” VS Ganesh, managing director, Page Industries Limited, said.
“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,” added Ganesh.
Page Industries is strategically positioned for sustained growth while adapting to the shifting dynamics of retail and evolving consumer demands. Our approach to embracing operational improvements and digital innovations equips us to navigate these market complexities with confidence. We are focused on prioritising the expansion of our e-commerce platform and deepening D2C connections. These efforts are aimed at enhancing consumer access and experience, ensuring we stay ahead in a competitive landscape.
