Lux Industries' share price surged 11 percent to hit a new high on Wednesday after the company's net profit more than doubled in the March quarter.
The company reported 48.11 percent y-o-y increase in consolidated revenues for the March 2021 quarter at Rs 596.13 crore. On a sequential basis, the total sales revenues were up by a more muted 10.89 percent compared to total revenues in the December 2020 quarter at Rs 537.61 crore.
For the March 2021 fiscal year, the net cash flows from operations more than doubled to Rs 388 crore via favourable movements in working capital components during the fiscal year 2020-21.
Net profits in the March quarter were up 118 percent at Rs91.32 crore. On a y-o-y basis, sales grew by 48 percent while the operating costs grew by just about 38 percent and this was largely instrumental in boost the operating profits of the company.
Net margins at 15.32 percent in the quarter was sharply higher than 10.40 percent reported in March 2020 quarter. On a sequential basis, the net margins were higher by about 127 basis points as cost controls worked in their favour.