Published
Feb 14, 2019
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Lux Industries Q3 net profit jumps 32 percent to Rs 24 crore

Published
Feb 14, 2019

Lux Industries Limited, one of India's largest hosiery producer and exporter witnessed a 32 percent rise in its net profit to Rs 24 crore ($3.4 million) for the third quarter ended December 2018. The company had posted a net profit of Rs 18 crore in the corresponding quarter last fiscal.
 

Lux Industries Q3 net profit jumps 32 percent to Rs 24 crore - Onn-Facebook


The company attributed the increase in profits to changing product mix, optimum capacity utilisation and focussed marketing and brand building initiatives.
 
Lux Industries revenue for the quarter dropped by 5 percent to Rs 284 crore as against the Rs 297 crore it reported during the same period last year.

Commenting on the results, Pradip Kumar Todi managing director in a statement said: "We have pleased to announce that our company's revenue grew by 12 percent to Rs 824 crore for the nine months of this year. EBITDA and PAT also grew by 27 percent and 36 percent to Rs 125 crore and Rs 65 crore respectively. This has been mainly attributable to changing product mix, optimum capacity utilisation and focussed marketing and brand building initiatives. At Lux, we have been continuously working on improving financial and operational efficiencies.”
 
“With winters being extended a bit, sales of Lux Venus and Lux Cozi for the month of December have actually happened in January. We are strongly placed to capture this growth through our mass and premium brands in the coming quarter. We expect our premium products to outperform the innerwear industry going ahead,” he added.
 
Lux products are retailed in more than 450,000 stores across India and also have a strong online presence with brands like Genx, Lyra, Onn, among many others.

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