Lumax Ind freezes at 20% upper circuit on strong Q2 results, capex plan

Shares of Lumax Industries were locked at the 20-per cent upper circuit at Rs 1,796.50 on the BSE on Friday after the company’s consolidated net profit more-than-doubled to Rs 32.97 crore in the September quarter (Q2FY23) on healthy operational income.

The company's revenue from operations rose 36.7 per cent at Rs 620 crore as against Rs 453 crore in the corresponding quarter of the previous fiscal. On sequential basis, net profit jumped 66 per cent, and revenue by 21 per cent during the quarter.

Further, the board has approved the company's plan to set up new manufacturing unit