Indian clothing firm Lux Industries FY21 revenues up 17% to ₹1,965 cr

01 Jun '21

2 min read

Pic: Lux Industries

Lux Industries Limited, one of India’s largest hosiery producers and exporters, has reported 17 per cent revenues growth to ₹1,964.8 crore in its fiscal 2021 that ended on March 31, 2021, compared to the revenues of ₹1,674.1 crore in the previous fiscal. The company EBITDA for the year rose 43 per cent to ₹392.6 crore (FY20: ₹275.2 crore).

“We are pleased to report a resilient performance for the quarter gone by. The performance has been driven by progressive improvement in demand and consumption across the innerwear industry,” Ashok Kumar Todi, chairman at Lux Industries, said in a press release.

“Despite the local lockdown due to the Covid-19 Pandemic and the resulting challenges during the quarter we witnessed healthy traction for our economy and mid-premium categories and saw a gradual pickup in our premium and export segment,” Todi added.

The company’s profit after tax for the reported year surged to ₹269.3 crore (₹177.2 crore).

“Company is also accelerating its growth driver via way of new expansions to capture the market share women’s as well as kids segment and also to have the presence felt in southern part of India. Online and EBO’s are the new offerings which will again help to accelerate and achieve the vision,” Saurabh Bhudolia, CFO at Lux Industries, said in the release.

Fibre2Fashion News Desk (JL)

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