Page Industries net profit up 48.81 percent in March quarter

Page Industries’ net profit soared 48.81 percent to Rs 35.12 crores in the quarter

ended March 2014 as against Rs 23.60 crores during the same quarter ended March 2013. Sales rose 33.41 percent to Rs 278.90 crores in the quarter against Rs 209.06 crores in March 2013. Net profit, for the fiscal year ended March 2014, increased 36.66 percent to Rs 153.78 crores while sales rose 35.86 percent to Rs 1,173.09 crores in the year.

In March, Cartica Capital picked another 2.5 percent equity stake in Page Industries - a licensed manufacturer of the Jockey brand of innerwear for men and women in India, Sri Lanka, Bangladesh and Nepal for Rs 168 crores (27.5 million dollars). Cartica Capital picked up 2.8 lakh at an average price of Rs 6,000 per share on NSE.

It had earlier picked 5 percent stake for Rs 317 crores (51.2 million dollars) and with the latest transaction, its total exposure to the company has grown to Rs 485 crores (78.7 million dollars). Another PE firm Nalanda Capital holds 9.96 percent stake in Page Industries.