Lux Industries Q4 net profit declines 59 percent to Rs 30 crore

By

Maverick Martins

Published
May 30, 2023

Lux Industries Ltd witnessed a 59 percent decline in consolidated net profit to Rs 30 crore ($3.7 million) for the fourth quarter ended March 2023, as against Rs 73 crore in the year-ago period.

The company’s total income for the quarter rose to Rs 725 crore, as against Rs 593 crore in the corresponding period of the previous fiscal year.

The total expenses in January-March period stood at Rs 684 crore as compared to Rs 492 crore in the same period of financial year 2022.

The company informed that it has appointed Ajay Nagar as chief financial officer. Prior to joining Lux Industries Limited, he was associated with VIP Industries Limited (Bangladesh) as finance controller.

Lux Industries Limited operates brands like Genx, Lyra, and Onn, among many others, and is one of the largest players in the hosiery business.