homeearnings NewsPage Industries Q2: E commerce sales close to double digit; momentum in athleisure still continuing, says management
Page Industries Q2: E-commerce sales close to double-digit; momentum in athleisure still continuing, says management
K Chandrasekar, the chief financial officer of Page Industries, on Friday, said that momentum in athleisure has been continuous through COVID-19. He also mentioned that e-commerce sales have seen an uptick ever since the pandemic due to changed buying behavioral pattern among consumers. The company is already close to double-digit sales from their e-commerce vertical.
K Chandrasekar, the chief financial officer of Page Industries, on Friday, said that momentum in athleisure has been continuous through COVID-19.
Garments maker Page Industries, on Thursday, November 11, reported a net profit of Rs160.5 crore for the quarter ended September, beating Street estimates by a wide margin. The net profit was up 44.7 percent on a year-on-year basis. Bengaluru-based Page Industries' revenue increased 46.4 percent to Rs 1,084 crore for the three-month period, compared with that of Rs 740.3 crore in the corresponding period a year ago.
“We keep on introducing new products every quarter in all the categories and athleisure has seen increased uptick during the pandemic last year and that momentum is continuing. The growth in athleisure is equally good as any other category,” Chandrashekhar said, in an interview to CNBC-TV18.
On e-commerce business, he said, “It used to be 3-4 percent before the pandemic. It has become 8-9 percent consistently because the buying behaviour of the consumer has changed, maybe even permanently. So, we are close to double-digit as far as e-commerce sales are concerned.”
For the entire management interview, watch the video
(Edited by : Dipikka Ghosh)
First Published: Nov 12, 2021 10:50 AM IST
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