Lux Industries shares gain nearly 6% after Q4 net profit rises 88%

Lux Industries, India’s largest innerwear products maker, has reported an 88% jump in consolidated net profit to ₹55.51 crore in the March quarter against ₹22.44 crore in the year-ago period. The company had reported a net profit of ₹19.49 crore in the previous quarter.

Revenue from operations declined marginally to ₹704 crore in the March quarter from ₹710 crore in the year-ago period. Sequentially, revenue grew by 56% from around ₹450 crore in the December quarter.

The company had earlier projected that delayed winter and general slowdown were likely to impact consumption.

Lower expenses helped the company post robust growth in net profit. Expenses were down by nearly 7% at ₹640 crore against ₹686 crore in the year-ago period.

For the full fiscal, net profit dropped by 8% to ₹126 crore against ₹137 crore in the previous year. Revenue from operations slipped to ₹2385.29 crore in 2023-24 from ₹2,400.77 crore in the previous year.

The company’s board recommended a dividend of 100% at ₹2 per equity share of the face value of ₹2 each for the financial year ended March 31, 2024.

Lux Industries is India’s largest innerwear manufacturer and retails products under brands like ONN, Lux Cozi, ONE 8 and Cozi Luxury and women’s brand Lyra.

Its products are available in more than 2 lakh multi brand stores and nine Exclusive Brand Outlets. The company has been focusing on Omni channel’ core strategy to drive growth.

Lux Industries shares opened higher at ₹1,498 per share on the NSE against the previous close of ₹1,422.3 apiece. The stock rose further by 6.89 % to hit a high of ₹1,520 per share on the NSE. Shares of the company have risen around 12% in 2024 so far.

Lux Industries shares were trading 3.24% higher at ₹1,469.8 apiece on the NSE at 11:47 am.