New Delhi: Lumax Auto Technologies Limited, part of the Lumax – D.K. Jain Group reported a 539.59% jump in its profit to INR 21.81 crore in the quarter ended June 2022 as against INR 3.41 crore during the previous quarter ended June 2021.
Meanwhile, the company’s sales rose 61.98% to INR 421.93 crore in the quarter ended June 2022 as against INR 260.48 crore during the previous quarter ended June 2021.
According to Anmol Jain, MD, Lumax Auto Technologies, despite the challenges faced by the auto industry during the last few quarters, we have consistently been able to report strong quarterly revenue and profitability and are optimistic of maintaining similar growth run rate in the coming future.
“We are seeing a sharp revival in the auto industry on the back of stabilizing commodity prices and ease of shortages of semiconductors. With increased technological advancements, consumer sentiments and buying behaviour, we envisage demand for more advanced & premium products to increase, which in turn will be the future growth drivers for the auto industry. We have been continuously working to improve our product performance and keep abreast with the shift witnessed in the auto industry,” Jain added.
During the quarter under review, EBITDA margin stood at 11.5% for Q1FY23 up by 430 bps from Q1FY22.
“With high runway for growth in the industry, our strong product portfolio & long‐standing relationships with OEM’s; we are confident of outperforming the industry growth by increasing our wallet share among the existing customers, addition of our supplies in the new launches and addition of new customers,” Jain said.