(20 second reading) Page Industries, the branded apparel player announced weakness in sales growth.
Page Industries, which licenses Jockey International’s products in India, reported total revenue of Rs 995.3 crore for the March quarter, rising 3.2 percent from Rs 964.6 crore in the year-ago period.
The firm posted a consolidated net profit of Rs 108.2 crore for the March quarter, registering a growth of 38.2 percent from Rs 78.3 crore in the same quarter of the previous financial year.
Volume growth continued to be subdued, with 45.3 million pieces sold in Q4 (a growth of 6.1 percent on-year), whereas for full year it de-grew 3.4 percent to 208.3 million pieces.
Morgan Stanley said that Page Industries missed its estimates, but retained its overweight call