Lux Industries Ltd Q3 net profit surges 40 percent to Rs 33 crore
today Feb 13, 2020
Lux Industries Ltd witnessed a 40 percent rise in its net profit to Rs 33 crore ($4.7 million) for the third quarter ended December 31, 2019, as against Rs 24 crore it had reported in the corresponding quarter of the previous fiscal.
The company’s revenue for the quarter under review grew by 7 percent to Rs 306 crore, as compared to Rs 285 crore it had reported in the year-ago period.
Commenting on the results, Pradip Kumar Todi managing director of Lux Industries Ltd in a statement said: “We have delivered strong growth for the quarter despite continued weakness in demand coupled with several macro-economic challenges. Our company has delivered a 7 percent revenue growth which stood at Rs 305 crore. This is mainly due to better product mix and increased share of value-added products. We also have been working on improving our cost efficiencies. PAT for the quarter grew by 40 percent to Rs 33 crore.”
“We are undertaking several measures to aggressively promote and position our brands. We have streamlined our supply and distribution network and are working closely with our channel partners and distributors to monitor our working capital cycle,” Todi 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 20 percent of the organised industry.
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