Speedo India licensee posts 7% fall in quarterly profit on labour law charge

Page Industries

05/02/2026 10:21

Feb 5 (Reuters) - India's Page Industries PAGE.NS, which licenses Jockey and Speedo products in the country, reported a 7% decline in third-quarter profit on Thursday due to a one-time charge related to new labour laws, even as sales rose.

The apparel maker's profit fell to 1.9 billion rupees  ($21.05 million) for the quarter ended December 31 from 2.05 billion rupees a year ago.

A one-time charge of 350 million rupees related to India's new labour codes weighed on profit in the quarter, the company said.

India's new labour codes, the biggest overhaul of worker laws in decades and implemented last November, have hit profits  across sectors, including at Infosys INFY.NS, JK Lakshmi Cement JKLC.NS, Hyundai Motor India HYUN.NS and ITC ITC.NS.

Page's revenue from operations rose 6% to 13.87 billion rupees in the quarter, supported by new product launches and wider online reach, the company said.

Demand for essentials and discretionary goods has picked up after a prolonged urban-led slowdown as late-September consumption tax cuts boosted consumer spending in the world's most populous country.

Shares of the company rose as much as 5.4% after the results and closed 3.5% higher.

($1 = 90.2625 Indian rupees)

 (Reporting by Surbhi Misra in Bengaluru and Praveen Paramasivam in Chennai; Editing by Eileen Soreng)

 ((Surbhi.Misra@thomsonreuters.com |  X: https://twitter.com/SurbhiMisra_  |;))