Lumax Ind cons net dips 41% at Rs 7.10 cr

Lumax Ind cons net dips 41% at Rs 7.10 cr

15/05/2017 12:56

Lumax Industries, a pioneer in automotive lighting and illumination products, on Monday reported a 41 per cent decline in its consolidated net profit at Rs 7.10 crore in the fourth quarter ended March 31, 2017 due to decline in the performance of the associate company.

“The company had posted consolidated net profit of Rs 12.12 crore during the same period last year,” said Lumax Industries in a filing to the Bombay Stock Exchange.

The consolidated total income of company rose by 20 per cent to Rs 385.95 crore in Q4 FY17 from Rs 323.21 crore in Q4 FY16.

“The consolidated results have been affected on account of decline in profitability of SL Lumax, associate company, due to price reduction,” it said in the filing.

However, on the standalone basis the company has posted a 3 per cent year-on-year rise in its net profit at Rs 10.68 crore from Rs 10.34 crore in the year ago period.

For FY 2016-17, the company has posted consolidated net profit of Rs 55.22 crore as against total revenue of Rs 1300 crore.

Meanwhile, shares of company were trading at Rs 1490.00 apiece, up 1.53 per cent, from the previous close on the BSE at 13:15 hour.

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