Page Industries posted a 49% jump in its net profit to Rs. 17.02 crore in the year ended March 2007 compared to Rs 11.39 crore in FY 2006. Net sales shot up 34% to Rs 135.94 crore, from Rs 101.18 crore.
Page Industries is an exclusive licensee of the Jockey brand of inner wear for India, Sri Lanka, Nepal, Bangladesh and Maldives. The premium innerwear market is posting double-digit growth and the company intends to increase its market share to around 30%. The top line is expected to grow at a CAGR of 35% on the retail revolution, growing consumer sophistication, higher disposable income and urbanisation.
Page Industries expects to benefit from export opportunities emerging from Jockey International USA and Europe. The Page Industries stock had seen a pre-results rally, advancing from Rs 331.55 on 27 April 2007 to 366.65 by 9 May 2007 in anticipation of robust set of results.