Lux Industries registers 88% rise in net profit in Q4, FY24
Innerwear products maker Lux Industries recorded a 88 per cent growth in net profit during Q4, FY24 as against Rs 19 crore in the year ago quarter.
However, the company’s revenue for the quarter declined marginally to Rs 704 crore from Rs 710 crore recorded in the corresponding quarter of the previous fiscal year.
Its net profit for the entire financial year declined by 8 per cent to Rs 126 crore from Rs 137 crore in the previous year. Revenues also plunged to Rs 2,385 crore from Rs 2,401 crore in the previous year.
Dominating the womenswear market, Lux Industries’ powerbrand Lyra reported a 11 per cent Y-o-Y growth in volume while the volume of the men’s innerwear brand Lux Cozi grew by 5 per cent Y-o-Y.
Besides exploring new territories with the launch of its rainwear category, Lux Industries also expanded its womenswear range by launching a new brand ‘Lux Venus Her’ during the financial year.
One of the largest players in the hosiery industries, Lux Industries operates brands like Genx, Lyra, and Onn, etc.
