Innerwear and apparel maker Lux Industries has witnessed a 118 percent jump in its net profit to Rs 91 crore ($12.6 million) in the fourth quarter ended March 2021, as against a net profit of Rs 41 crore in reported in the year-ago period.
The company’s revenue for the quarter rose by 48 percent to Rs 595 crore, as against Rs 402 crore it reported in the corresponding period of the last financial year.
For the financial year 2020-21, the company reported a net profit of Rs 269 crore with a revenue of Rs 1,943 crore.
Commenting on the results, Lux Industries chairman, Ashok Kumar Todi, in a statement said: “Despite the local lockdown due to the Covid-19 pandemic and the resulting challenges during the quarter, we witnessed healthy traction for our economy and mid-premium categories and saw a gradual pickup in our premium and export segment.”
On the outlook, Todi added: “While demand remains strong, the supply situation over the next few months is likely to be adversely impacted by disruptions from Covid-19 lockdowns in India. We expect Q1 FY22 to be relatively weak due to the pandemic and expect to improve gradually from the second quarter.”
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 15 percent of the organised industry.
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