Page Industries – which makes Jockey, Speedo and other undergarment products in India – reported its earnings for the quarter ended March in the after market hours on Thursday.

What Happened: The company’s revenue from operations dipped 12.8% to ₹969.1 crore as against ₹1,111.1 crore in the same quarter last year. Net profits for the January-March period crashed over 58% to ₹78.4 crore from ₹190.5 crore in the same period last year. The company’s topline and bottom line both missed consensus estimates.

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The management said that they were pleased by the company’s overall growth through the year despite a challenging economic climate and a general decrease in consumption. “We consider this impact to be temporary and maintain a positive outlook on demand” the management added.

The innerwear company’s EBITDA for the review quarter stood at ₹134.5 crore, down close to 50% from the ₹267.1 crore EBITDA it reported in the year-ago period. EBITDA margin was at 13.9%. Earnings per share for the quarter stood at ₹70.24.

The company also declared a fourth interim dividend of ₹60/share. The record date fixed for the payment of the interim dividend is June 2. The date fixed for payment of the dividend is on or before June 23.

Price Action: Page Industries’ shares price was down 0.31% to close at ₹41,125 on Thursday.

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