Kolkata-based leading knitted undergarment and apparel manufacturing company Lux Industries’ net sales in Q1, FY ’24 are down 8.46 per cent as they were at Rs 520.59 crore in this quarter compared to Rs. 568.72 crore in Q1, FY ’23.
The company reported its consolidated results which shows that its quarterly net profit is also down 67.13 per cent in Q1 of current fiscal year. It was at Rs. 16.68 crore in the quarter ended on June 2023 while the same was Rs. 50.74 crore in the quarter ended on June 2022.
The company’s EBITDA stands at Rs. 33.24 crore in the June 2023 quarter down 57.28 per cent from Rs. 77.80 crore in the June 2022 quarter.
It can be mentioned here that many companies within the innerwear sector are grappling with an alarming inventory surplus, with some holding up to eight to twelve months’ worth of excess stock. Experts believe that this excess inventory has created a domino effect, resulting in aggressive discounting and various intervention strategies in an attempt to clear the unsold products.
Bharat Tex Special Report 2026 
