Lux Industries Q2 net profit jumps 95 percent to Rs 41 crore
today Nov 14, 2019
Lux Industries Ltd’s net profit for the second quarter ended September 2019 jumped 95 percent to Rs 41 crore ($5.7 million), as against Rs 21 crore it had reported during the previous quarter ended September 2018.
The company’s sales revenue for the July-September quarter rose 27 percent to Rs 348 crore, as against Rs 275 crore it reported in the year-ago period.
Lux Industries Ltd’s earnings before interest, tax, depreciation, and amortisation (EBITDA) increased 25 percent to Rs 52 crore for the quarter.
Commenting on the results, Pradip Kumar Todi managing director in a statement said: “Our results decisively demonstrate the growing profitability despite many headwinds faced due to challenging the economic environment and weak consumer sentiments.”
“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 with brands like Genx, Lyra, and Onn, among many others, 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. Lux plans to launch many more products in the coming months, especially in the premium segment.
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