NEW DELHI: Page Industries has elevated VS Ganesh as executive director and chief executive officer. This follows the departure of Vedji Ticku, who resigned as CEO from the company last week citing “personal commitments.”
In a regulatory filing, the company stated that Ganesh will be appointed for a period of five years effective 1 June 2021. He is currently the executive director – manufacturing and operation.
Page Industries MD Sunder Genomal said, "I am delighted to welcome Ganesh, I have no doubt that Ganesh would exceed all our expectations in the role of CEO and that the company will continue to remain in excellent hands. I believe Ganesh has the right leadership skills and qualities to succeed Vedji and also drive the company’s growth to the next level."
On the firm's notable achievements with Ticku at the helm, Genomal added, "We thank Ticku for his leadership and contributions to the company over the last 24 years. During his tenure, he has provided valuable leadership to the senior executives and their respective teams."
Bangalore-based Page Industries is the exclusive licensee of American underwear brand Jockey International for manufacture, distribution and marketing in countries such as India, Sri Lanka, Bangladesh, Nepal, UAE, Oman and Qatar. It is also the exclusive licensee of Speedo International Ltd for the manufacture, marketing, and distribution of the Speedo brand in India.
For the quarter ended 31 December 2020, the company reported consolidated net profit of Rs 153.7 crore, a 76.64 per cent leap compared to the net profit of Rs 87.01 crore during the October-December period a year ago.
Revenue from operations, meanwhile, rose 16.78 per cent to Rs 927.06 crore during the quarter as against Rs 793.82 crore in the corresponding period of the previous fiscal.
During the last quarter, the company opened 80 new exclusive brand outlets, taking the overall number to 873 supported by strong pent-up demand, lockdown relaxation, demand for winter wear, traction in athleisure wear and festival demand. Most of Page’s stores have now opened and witnessed double digit growth in demand.
