Page Industries net sales increase to Rs 308.50 cr

Page Industries has clocked in a net sales/income from

operations of Rs 308.50 crores for the quarter ended June 30, 2013 as against Rs 222.02 crores for the quarter ended June 30, 2012. The net profit/ (loss) was Rs 43.10 crores for the quarter under review. The company has reported an EPS of Rs 38.65 for the quarter as compared to Rs 29.37 for the same quarter last year.

Page Industries, which sells Jockey underwear and other garments outperformed both peers and the S&P BSE 500 index this year. The company’s shares went up 21 percent this year, compared to a 4 percent decline in the broad market index, on expectations of an improvement in margins and robust growth.

The company is expected to maintain strong volume growth of 16-17 percent, despite the fact that it has not passed on the excise duty abatement benefit of 3.6 percent on branded garments to customers. This would increase its margins.