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Innerwear manufacturer Lux Industries’ profit climbs whopping 32%

Lux Industries Limited, India’s biggest hosiery manufacturer and exporter, registered a massive 32 percent increase in its net profit to Rs. 24 crore for the third quarter ended December 2018 as against Rs. 18 crore in the corresponding quarter of the previous fiscal.

Changing product mix, best possible capacity utilisation, marketing and brand building were the key to success for the garment and textile company.

However, the company’s revenue for the quarter plunged 5 percent to Rs. 284 crore as against Rs. 297 crore in the same period last year.

Pradip Kumar Todi, Managing Director of the company said, “At Lux, we’ve been continuously working on improving financial and operational efficiencies.”

He added, “With winters being extended a bit, sales of Lux Venus and Lux Cozi for the month of December have actually happened in January. We are strongly placed to capture this growth through our mass and premium brands in the coming quarter. We expect our premium products to outperform the innerwear industry going ahead,” he added.

The company’s revenue for the reporting period grew by 12 percent to Rs. 824 crore for the nine months of this year.

Earnings before interest, tax, depreciation and amortization (EBITDA) and PAT (profit after tax) also soared 27 percent and 36 percent, to Rs. 125 crore and Rs. 65 crore, respectively.

Markedly, the company retails its products in over 450,000 stores across India. It also sells its brands like Genx, Lyra, Onn, and more online.

Headquartered in Kolkata, West Bengal, India, Lux’s offerings comprise a variety of hosiery products for men, women and children.

It is one of the oldest underwear companies in India.

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