Lumax Industries was locked in 20% upper circuit at Rs 1794.35 after the company's consolidated net profit zoomed 32.96 crore in Q2 FY23 from Rs 15.33 crore in Q2 FY22.
Revenue from operations increased by 37%YoY to Rs 620.06 crore during the quarter.
Total expenses rose by 34% YoY to Rs 587.49 crore in Q2 FY23, due to higher raw material costs (up 43% YoY), higher other expenses (up 33% YoY) and higher employee expenses (up 17% YoY).
Profit before tax in Q2 FY23 stood at Rs 47.86 crore, up by 2.2x from Rs 21.38 crore in Q2 FY22.
Lumax Industries is positioned as one of the leading players in the domestic automotive lighting industry with a product portfolio of automotive lighting systems, such as head lamps, tail lamps, sundry and auxiliary lamps. The company's presence spans all segments of the auto sector, viz., passenger four-wheelers, passenger two-wheelers, commercial vehicles, buses, tractors, etc.
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