Lux Industries Ltd reported a 12 percent rise in net profit to Rs 20 crore ($2.5 million) for the period ended December 31, 2023, as against net profit of Rs 18 crore reported in the year-ago period.
The company’s total income for the quarter was down by 3 percent to Rs 450 crore, as against Rs 463 crore posted in the corresponding quarter of the previous fiscal year.
Lux’s womenswear brand Lyra registered a year-on-year volume growth of 53 percent while men’s innerwear brand Lux Cozi reported a growth of 2 percent.
The company in its investor presentation said that sluggish export demand, delayed winter, and general slowdown impacted consumption.
Lux has expanded its product portfolio with focus on athleisure clothing and womenswear segment to fuel its growth in the coming quarters.
The company also plans to strengthen its e-commerce footprint and targeting revenue of Rs 100 crore from online sales in the next three years.
Lux Industries Limited operates brands like Genx, Lyra, and Onn, among many others, and is one of the largest players in the hosiery business.
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