Innerwear products maker Lux Industries Ltd reported an 88 percent rise in net profit to Rs 56 crore ($6.7 million) for the fourth quarter ended March 31, as against Rs 19 crore in the year ago quarter.
The company’s revenue for the quarter declined marginally to Rs 704 crore, as against Rs 710 crore in the corresponding quarter of the previous fiscal year.
For the full financial year, the net profit dropped by 8 percent to Rs 126 crore against Rs 137 crore in the previous year while revenue was down to Rs 2,385 crore from Rs 2,401 crore in the previous year.
The company’s power brand Lyra continued to dominate market in womenswear segment and registered a year-on-year volume growth of 11 percent. Men’s innerwear brand Lux Cozi registered a year-on-year volume growth of 5 percent.
During the financial year, the company launched the rainwear category to explore new territories and expanded its womenswear range with the launch of a new brand ‘Lux Venus Her’.
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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