Various companies have performed well in the first quarter of the current fiscal!
Those involved in apparel manufacturing and retail, such as Trent, Page Industries, Go Fashion, Dollar Industries, etc., too have noticed good growth in Q1, FY ’23.
Tata Group retail firm Trent Ltd. saw its Q1 operations revenue touch Rs. 1,803.15 crore, up over three-fold year-on-year (Y-o-Y). Trent now has a portfolio of over 450 fashion stores.
Trent Chairman Noel N Tata said fashion concepts have displayed strong growth momentum in Q1, FY ’23.
He added “I have no doubt that we are in the initial laps of our growth as we continue to expand our reach with vigour and reinforce our lifestyle offerings across concepts, categories and channels. The growing acceptance of our brands demonstrates the attractiveness of our platform and the tremendous potential.”
Similarly, Page Industries’ Q1 net profit too rose multi-fold to Rs. 207 crore for the quarter ended June 2022. The company had posted a net profit of Rs. 10.94 crore during the April-June period a year ago.
Its revenue from operations during the quarter under review was at Rs. 1,341.26 crore, up over two-fold compared to a lower base of the pandemic-impacted Q1, FY ’22.
VS Ganesh, MD, PIL, said “Riding on the back of strong sales performance and robust financial planning, despite external challenges, we have successfully delivered yet another milestone performance this quarter. Our strategy of introducing kidswear across exclusive womenswear stores has shown good results and we are confident of making inroads into this nascent and fast-growing segment.”
Page Industries is the exclusive licensee of Jockey International Inc. (USA) for manufacture, distribution and marketing in India, and few other countries.
Another leading company Go Fashion (India) Limited, known for women’s bottomwear brand, has seen profit after tax (PAT) of Rs. 24 crore in the first quarter against a loss of Rs. 19 crore on a Y-o-Y basis. The company’s revenue has jumped 433 per cent to Rs. 165 crore.
Leading undergarment and knitted product company Dollar Industries Ltd.’s total revenue for the quarter stood at Rs. 363.99 crore as compared to Rs. 205.49 crore for the same period a year earlier. That’s a growth of 77.13 per cent!
Its operating revenue for Q1, FY ’23 stood at Rs. 361.43 crore as compared to Rs. 204.58 crore for Q1, FY ’22, at a growth of 76.67 per cent.
