Page Industries, exclusive licensee of Jockey International in India on Friday posted 29.60 per cent increase in net profit for the quarter ended March 31, 2011 at Rs 12.87 crore. In the same quarter of 2009-10, the company’s net profit was Rs 9.93 crore.

Page Industries’ net sales in the fourth quarter of 2010-11, increased by 34.71 per cent at Rs 111.38 crore, as against Rs 82.68 crore in the same quarter of 2009-10, it said in a filing to the Bombay Stock Exchange.

For the full year ended March 31, 2011, the company’s net profit grew 47.79 per cent at Rs 58.54 crore, compared to Rs 39.61 crore in the previous fiscal.

The firm’s net sales saw an increase of 44.84 per cent to Rs 491.56 crore in 2010-11, compared to Rs 339.37 crore in 2009-10.

“We are pleased that Page Industries has delivered yet another strong quarter and robust revenue and profit growth for the year that has exceeded our expectations,” Page Industries Managing Director Mr Sunder Ashok Genomal said.

The company’s board has recommended a final dividend of Rs 4 per share on an equity share value of Rs 10 each for the financial year 2010-11.

For the current financial year (2011-12), the board has also declared an interim dividend of Rs 5 per share on an equity share value of Rs 10 each, the filing added.

The company is the exclusive licensee of Jockey International Inc (USA) for manufacturing and distribution of the Jockey brand of inner wear and leisure wear in India, Sri Lanka, Bangladesh, Nepal and UAE. Within India, Jockey products are retailed through 68 exclusive outlets and over 18,000 retail stores in 1,200 cities and towns.

The company’s scrips closed at Rs 1,650 per share, down 3.07 per cent compared to the previous close on the Bombay Stock Exchange.

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