Lumax Q4 revenue falls by 10 pc due to slump in auto sales
New Delhi [India], June 19 (ANI): Automobile lighting major Lumax Industries has reported 10 per cent fall in its revenue at Rs 387 crore during the fourth quarter of fiscal ended March as against Rs 433 crore in Q4 FY19.
ANI
Jun 19, 2020 17:04 IST
New Delhi [India], June 19 (ANI): Automobile lighting major Lumax Industries has reported 10 per cent fall in its revenue at Rs 387 crore during the fourth quarter of fiscal ended March as against Rs 433 crore in Q4 FY19.
However, the company's profit after tax and share of associate was up by 15 per cent stood at Rs 16 crore in Q4 FY20 as against Rs 14 crore in Q4 FY19.
For the entire fiscal ended March (FY20), the revenue dropped 13 per cent to Rs 1,602 crore from Rs 1,851 crore in FY19 while profit after tax was down 4 per cent to Rs 72 crore from Rs 75 crore in the same period.
"The outbreak of Covid-19 pandemic dealt a decisive blow to the already reeling automobile industry," said Chairman and Managing Director Deepak Jain.
"The forthcoming year is expected to be challenging and hence we remain cautious on the demand outlook. Our focus will be on efficiency improvement and devising mitigation strategies to face the near-term headwinds."
Jain said the company is regrouping, building a robust supply chain and making manufacturing processes more agile as the focus shifts from production performance to surviving in an environment of unpredictable
change by being able to react quickly to changing market conditions.
Lumax has 10 manufacturing plants in the country strategically located near manufacturing locations of major OEMs.
It is one of the major suppliers to Hero Motocorp, Honda Motorcycle and Scooter India, Honda Cars, Mahindra and Mahindra, Maruti Suzuki, Tata Motors and others. (ANI)
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