Jockey Q4 profit dip 20 per cent as margins come down

In the fourth quarter, Jockey’s profit declined 20.4 per cent. Margins have contracted by 4.4 per cent. The weak trend is expected to continue as the management has not yet seen a pick-up in the ongoing quarter. The extent of weakness in the company is high compared to peers despite the company increasing prices by five per cent across product lines. Overall, Jockey had a better financial performance in the last financial year. The company’s profit grew 13.5 per cent. Revenue went up by 11.8 per cent. In the second quarter, the revenue and profit didn’t grow on expected lines.

Page Industry, the force behind Jockey has a workforce of 20,000 people with manufacturing operations spread over 15 locations including Bangalore, Mysore and Tirupur. Page Industries distribution network of over 50,000 retail outlets in 1,800 towns. Page Industries was set up in India in 1994 for manufacturing, distribution and marketing of Jockey products. Page has had a phenomenal rise in the stock market in the last ten years. Besides India, Page is one of the biggest licensees in the world for innerwear maker Jockey, with exclusive license of the brand in Sri Lanka, Bangladesh, Nepal, UAE, Oman and Qatar. Page is also the exclusive Indian licensee of swimwear brand Speedo.