Published
Nov 2, 2021
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Lux Industries Q2 net profit jumps 49 percent to Rs 100 crore

Published
Nov 2, 2021

Innerwear and apparel major Lux Industries Ltd witnessed a 49 percent rise in its net profit to Rs 100 crore ($13.4 million) for the second quarter ended September 2021, as against a net profit of Rs 67 crore it reported in the year-ago period.
 

Lux Industries Q2 net profit jumps 49 percent to Rs 100 crore - Lux Innerwear


The company’s revenue for the quarter rose by 24 percent to Rs 620 crore, as against Rs 499 crore it posted in the corresponding period of the previous fiscal year.
 
Commenting on the Q2 results, Ashok Kumar Todi, chairman of Lux Industries, in a statement said: “Lux being one of the leading organised players in the industry has enhanced its operating efficiencies and was well poised to grab the market share across the product categories. Even during these challenging situations, we had a fill rate of 95 percent against an industry average of 80 percent which is a testament to our well-penetrated distribution network and strategic relationships.

“During the quarter gone by, we have also witnessed significant green shoots in demand due to the lifting of lockdown restrictions in most states, accelerated vaccination drives, growth in e-commerce, and resumption in the global supply chain,” he added.
 
Lux Industries Limited operates brands like Genx, Lyra, and Onn, among many others, and is one of the largest players in the hosiery business, with a market share of 15 percent of the organised industry.

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