Lumax Industries Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 09, 2024 at 08:26 am EST
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Lumax Industries Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 6,317.17 million compared to INR 5,794.22 million a year ago. Revenue was INR 6,332.45 million compared to INR 5,807.41 million a year ago. Net income was INR 255.83 million compared to INR 295.42 million a year ago. Basic earnings per share from continuing operations was INR 27.37 compared to INR 31.6 a year ago. Diluted earnings per share from continuing operations was INR 27.37 compared to INR 31.6 a year ago.
For the nine months, sales was INR 18,939.07 million compared to INR 17,114.21 million a year ago. Revenue was INR 18,999.61 million compared to INR 17,216.16 million a year ago. Net income was INR 749.51 million compared to INR 823.31 million a year ago. Basic earnings per share from continuing operations was INR 80.18 compared to INR 88.08 a year ago. Diluted earnings per share from continuing operations was INR 80.18 compared to INR 88.08 a year ago.
Lumax Industries Limited is an India-based provider of automotive lighting solutions. The Company is engaged in the manufacturing and trading of automotive components. The Company's wide range of product portfolio include end-to-end lighting solutions, such as headlamps, tail lamps, fog lamps, and other lighting components and auxiliary lamps, among others. In addition to lighting products, it also manufactures electronic components for 4-wheelers, 2-wheelers, commercial vehicles, and tractors in the farm equipment segment (FES). The Company sells mainly through business to business (B2B) model to original equipment manufacturers (OEMs). The Company caters to automobile manufacturing in Indian and global markets. The Company, including its associate company, SL Lumax Limited, has 11 manufacturing facilities that are spread across six states in India. Its subsidiary is Lumax Industries Czech s.r.o.