Lux Industries’ Q3 net profits rise 40 per cent

For the third quarter Lux Industries’ net profit increased 40 per cent. The company’s revenue for the quarter grew seven per cent driven by a better product mix of products and increased share of value-added products. Lux has also been working on improving cost efficiencies. PAT for the quarter grew by 40 per cent.

Lux has delivered strong growth for the quarter despite continued weakness in demand coupled with several macro-economic challenges. The company has streamlined its supply and distribution network and is working closely with its channel partners and distributors to monitor its working capital cycle. Lux Industries operates brands Genx, Lyra and Onn and many others. It is one of the largest players in hosiery business, with a market share of 20 percent of the organised industry.

Lux launched India’s first scented vest range under its brand Lux Cozi. To fight the rising mercury during summers the refreshing scented vests are a landmark product in the men’s innerwear category. Lux aims at doubling production capacity over the next three or four years. Lux is one of India’s largest hosiery producers and exporters. It has set a turnover target of Rs 1,500 crores by 2020.