Lumax Industries plunges 11% on weak March quarter results

The company said, the auto OEMs are currently facing a challenging time, which is likely to impact the performance of the auto component industry.

Lumax Industries plunged 11 per cent to Rs 1,447 on the BSE in intra-day trade, after the company reported weak set of numbers for the recently concluded quarter with net profit, revenue and operating margin registering a fall. The stock of auto ancillary firm is trading close to its 52-week low of Rs 1,386 touched on January 28, 2019 in intra-day trade.

The company’s net profit declined 20 per cent at Rs 14 crore, due to 23 per cent fall in revenue at Rs 433 crore as compared to the previous year's corresponding quarter. EBITDA (earnings before interest, tax, depreciation