<p>Page Industries, which licenses Jockey and Speedo products in India, reported a bigger-than-expected rise in its third-quarter profit on Wednesday, driven by strong athleisure demand.</p><p>The apparel maker reported a profit of 2.05 billion rupees ($23.4 million) for the quarter ended Dec 31, 2024, compared with 1.52 billion rupees a year ago.</p><p>Analysts' on average had expected a profit of 1.92 billion rupees.</p>.Page Industries renews 'Jockey' licence till 2030.<p>Rising fitness awareness, gym culture and athleisure trends are driving demand for performance wear in India, analysts said.</p><p>Alongside this, the availability of Jockey products on quick commerce and e-commerce platforms also drove revenue higher.</p><p>The company's revenue from operations rose 7% on-year to 13.13 billion rupees, but fell short of analysts' estimate of 13.75 billion rupees.</p><p>According to Maximize Market Research, India's athleisure market, valued at $673 million in 2022, is projected to approach $2 billion by 2029.</p><p>The Indian apparel sector confronts short-term headwinds due to dampened consumer sentiment, the company said, adding that in the long-term, it expects growth prospects to remain robust.</p><p>The retailer said its earnings before interest, tax, depreciation and amortization (EBITDA) margin expanded to 23% from 18.5% an year ago, aided by a tight lid on operating expenses, while revenue growth remained consistent. </p>
<p>Page Industries, which licenses Jockey and Speedo products in India, reported a bigger-than-expected rise in its third-quarter profit on Wednesday, driven by strong athleisure demand.</p><p>The apparel maker reported a profit of 2.05 billion rupees ($23.4 million) for the quarter ended Dec 31, 2024, compared with 1.52 billion rupees a year ago.</p><p>Analysts' on average had expected a profit of 1.92 billion rupees.</p>.Page Industries renews 'Jockey' licence till 2030.<p>Rising fitness awareness, gym culture and athleisure trends are driving demand for performance wear in India, analysts said.</p><p>Alongside this, the availability of Jockey products on quick commerce and e-commerce platforms also drove revenue higher.</p><p>The company's revenue from operations rose 7% on-year to 13.13 billion rupees, but fell short of analysts' estimate of 13.75 billion rupees.</p><p>According to Maximize Market Research, India's athleisure market, valued at $673 million in 2022, is projected to approach $2 billion by 2029.</p><p>The Indian apparel sector confronts short-term headwinds due to dampened consumer sentiment, the company said, adding that in the long-term, it expects growth prospects to remain robust.</p><p>The retailer said its earnings before interest, tax, depreciation and amortization (EBITDA) margin expanded to 23% from 18.5% an year ago, aided by a tight lid on operating expenses, while revenue growth remained consistent. </p>