Riding on the back of higher revenues, Lux Industries Ltd has posted 60 per cent rise in net profit at Rs 16 crore for the quarter ended June 30, 2017, compared with Rs 10 crore in the same period last year.
Total income from operations was up by 43 per cent at Rs 260 crore (Rs 182 crore). Its EBIDTA stood at Rs 32.32 crore (Rs 19.97 crore) during the quarter under review.
According to Pradip Kumar Todi, Managing Director, Lux Industries, the revenues were higher primarily on account of distributors increasing their ordering pattern temporarily for the quarter ended June 2017 due to GST implementation.
Commissioning of its fully automated machines at Dankuni contributed to cost efficiencies thereby improving the operating margins, a company press statement said.
However, the second quarter revenues are likely to be impacted due to business disruption in the first few weeks of July 2017, due to the implementation of GST.
“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,” Pradip Todi said.