Manufacturer of innerwear, Lux Industries Ltd, recorded an 88 per cent increase in net profit to Rs. 56 crore for the fourth quarter that concluded on 31st March from Rs. 19 crore in the same period the previous year.
Compared to the same quarter in the prior fiscal year, when revenue was Rs. 710 crore, the company’s revenue for the current quarter decreased somewhat to Rs. 704 crore.
Over the course of the fiscal year, sales decreased to Rs. 2,385 crore from Rs. 2,401 crore, while net profit decreased by 8 per cent to Rs. 126 crore from Rs. 137 crore in the prior year.
The company’s flagship brand Lyra saw an 11 per cent increase in volume year over year and maintained its market dominance in the womenswear sector. Lux Cozi, a men’s innerwear brand, saw a 5 per cent increase in volume year over year.
In order to develop into new markets, the company introduced the rainwear category during the fiscal year. Additionally, it expanded its womenswear line by introducing the new brand Lux Venus Her.
Lux Industries Limited is a major player in the hosiery industry, operating brands such as Genx, Lyra, and Onn, among many others.
