28 Aug 2017

Lux Industries Limited (LIL) announced its financial results for the quarter that ended June 30, 2017. The company clocked about 40% jump in its Profit after Tax (PAT) to Rs 15.69 crore compared to Rs 9.51 crore in its corresponding quarter previous year. Its EBIDTA stood at Rs 32.32 crore in the quarter evaluated compared to Rs 19.97 crore in FY17.
Ashok Kumar Todi, Chairman, Lux Industries Ltd. said “There is a lot of scope for penetration of our products and our endeavour is to capture higher share of wallet of our customer by offering new products with fashion, quality and comfort. GST is transforming our country into a single marketplace. We believe this tax reform will strengthen the overall position in the sector which forms 50% of the hosiery industry. In the long run, GST is going to be a game changer and we expect momentum to pick up from the second half of FY18.”
Pradip Kumar Todi, Managing Director, Lux Industries Ltd. said “We have achieved higher than expected revenues mainly because our distributors have temporarily increased their ordering pattern for the quarter ended June 2017 due to GST implementation. There has been a business disruption in the first 2-3 weeks of July 2017 as GST came into force and hence our Q2FY18 revenues will be impacted due to such one-off business disruption.” (EOIC)