Page Industries Q3FY25 Net Profit Rises 34.3%; Announces ₹150 Interim Dividend Amid Market Challenges

Highlights:

• Net profit up 34.3% YoY to ₹204.7 crore in Q3FY25.
• Revenue grew by 7.1% YoY to ₹1,313 crore.
• EBITDA up 33.6% YoY to ₹302 crore.
• ₹150 interim dividend declared, record date set for February 13, payout by March 7.
• Athleisure & Innerwear segments expected to drive future growth.
• Short-term headwinds in the apparel sector due to weak consumer sentiment.

Strong Q3FY25 Financial Performance

Page Industries, the exclusive distributor of Jockey in India, reported a robust 34.3% year-on-year (YoY) increase in net profit, reaching ₹204.7 crore in the third quarter of FY25. Revenue grew by 7.1% YoY to ₹1,313 crore, while EBITDA surged by 33.6% YoY to ₹302 crore, reflecting strong operational efficiency.

The company’s board also announced an interim dividend of ₹150 per share, with the record date set for February 13 and payout scheduled by March 7.

Market Challenges: Consumer Sentiment & Demand Weakness

In its Q3FY25 earnings presentation, Page Industries acknowledged that Indian apparel retail is facing short-term challenges due to subdued consumer sentiment. The company noted that while the festive season initially boosted demand, the momentum did not sustain throughout the quarter.

However, Page Industries remains optimistic about long-term growth, citing:

• Economic expansion
• Urbanization
• Increasing disposable incomes
• Growth in e-commerce and organized retail

Growth Focus on Athleisure & Innerwear Segments

Page Industries emphasized that the Athleisure and Innerwear categories will be pivotal growth drivers, benefiting from rising consumer preference for branded apparel and the digital retail boom.

During the September quarter earnings call, Karthik Yathindra, President of Page Industries, highlighted a renewed focus on international business, with expectations of growth in global markets over the next two quarters.

Stock Market Reaction & Performance

Following the earnings announcement, Page Industries’ stock dropped 1% to its day’s low.

• Year-to-Date (YTD) Performance: Down 3% in 2025.
• 1-Year Performance: Up 26% over the past year.

Despite short-term market fluctuations, the company’s strong financial performance and strategic focus on premium apparel categories position it well for long-term expansion.

Page Industries continues to deliver strong earnings growth, supported by strategic investments in core categories. While short-term demand fluctuations remain a challenge, the company’s long-term outlook remains positive, driven by athleisure, innerwear, and international expansion. Investors will closely watch how consumer sentiment and macroeconomic trends impact future performance.