Jockey India licensee posts Q2 profit fall on subdued demand

Page Industries, which licenses products of innerwear and loungewear brand Jockey International in India, reported a 7.3% fall in second-quarter profit on Thursday as inflation-hit consumers continued to cut back on spending. The Bengaluru-based company, which also operates in countries such as Sri Lanka and the United Arab Emirates, said its profit fell to 1.5 billion rupees ($18.02 million) for the quarter ended Sept. 30, from 1.62 billion rupees a year earlier. India's malls and high streets saw lower footfall during the quarter as rising inflation forced people to tighten their belts.