Lux Industries is set to expand its market presence by increasing its focus on modern trade and e-commerce, aiming to strategically broaden its reach in established markets.
In Q1 of FY ’25 (April-June 2024), the company reported a remarkable 89 per cent surge in net profit, reaching Rs. 35 crore, up from Rs. 18 crore in the same period last year. Revenue for the quarter also saw a modest increase, rising by 3 per cent to Rs. 535 crore, compared to Rs. 521 crore in the corresponding quarter of the previous fiscal year.
During this period, Lux Industries launched a new rainwear collection under the ‘Lux Venus’ brand and opened an exclusive Onn brand outlet in Bengaluru. Additionally, the company’s manufacturing facility at Jagadishpur, Hosiery Park in West Bengal, became fully operational, boosting its production capacity.
Despite inflationary pressures, Lux Industries’ power brands performed well, with menswear brands showing significant volume growth. However, the company acknowledged that consumption demand was impacted by factors such as elections, inflation, and irregular weather patterns across the country.
