Kolkata-based Lux Industries, one of the leading companies for innerwear, witnessed a decline of 59.1 per cent in consolidated net profit at Rs. 29.84 crore in Q4 FY ’23 compared to profit of Rs. 73.10 crore in Q4 FY ’22.
For FY ’23, the company’s net profit also declined by 59 per cent as it was Rs. 137.47 crore compared to Rs. 338.06 crore of FY ’22 and total income in FY ’23 was Rs. 2,397.63 crore against the Rs. 2,312.92 crore of FY ’22.
As per the regulatory filing, its income increased to Rs. 725.11 crore in Q4 FY ’23 as compared to the total income of Rs. 592.96 crore in FY ’22. The company’s total expenses grew to Rs. 684.19 crore in Q4, FY ’23 as compared to Rs. 491.76 crore in Q4 FY ’22.
It is worth mentioning here that other innerwear companies have negative results since the net profit of reputed textile company Page Industries – manufacturers of and marketing products under the brands Jockey and Speedo in India, reduced by 58.9 per cent as it was Rs. 78.4 crore for Q4 FY ’23 against a net profit of Rs. 190.5 crore for the same period of last fiscal.
