Apr 23, 2019
Lux Industries Q4 revenue jumps 9 percent to Rs 386 crore
Apr 23, 2019
Lux Industries Ltd witnessed an 8 percent rise in its net sales for the fourth quarter ended March 2019 as compared to Rs 355 crore (approx $51 million) it had posted in the corresponding quarter last fiscal.
The company’s net profit during the quarter grew 18 percent to Rs 38 crore as against Rs 32 crore it had reported in March 2018.
Commenting on the results, Pradip Kumar Todi, managing director, in a statement said: “For the fiscal year 2019, our total revenue stood at Rs 1,218 crore as against Rs 1,079 crore in FY18 reporting a growth of 13 percent. EBITDA and PAT were at Rs 190 crore and Rs 101 crore respectively. Our focus has been to reduce our working capital requirements, and, for the year FY19, we have been able to significantly improve our operating cash flows. Our operating cash flows for FY19 turned positive to Rs 185 crore.
“Going forward, our aim is to reduce the working capital cycle further. At Lux, we have been continuously working on improving financial and operational efficiencies. Our growth in profitability is mainly attributable to changing product mix, optimum capacity utilisation and focussed marketing and brand building initiatives."
Lux Industries Limited, incorporated in 1995 is one of the largest players in the hosiery business with a market share of 20 percent of the organised industry.
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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