New Delhi: Lumax Auto Technologies Limited, a part of the Lumax – D.K. Jain Group reported a 539.59% leap in its revenue to INR 21.81 crore within the quarter ended June 2022 as towards INR 3.41 crore throughout the earlier quarter ended June 2021.
Meanwhile, the corporate’s gross sales rose 61.98% to INR 421.93 crore within the quarter ended June 2022 as towards INR 260.48 crore throughout the earlier quarter ended June 2021.
According to Anmol Jain, MD, Lumax Auto Technologies, regardless of the challenges confronted by the auto trade throughout the previous few quarters, we now have constantly been in a position to report sturdy quarterly income and profitability and are optimistic of sustaining comparable development run fee within the coming future.
“We are seeing a sharp revival in the auto industry on the back of stabilizing commodity prices and ease of shortages of semiconductors. With increased technological advancements, consumer sentiments and buying behaviour, we envisage demand for more advanced & premium products to increase, which in turn will be the future growth drivers for the auto industry. We have been continuously working to improve our product performance and keep abreast with the shift witnessed in the auto industry,” Jain added.
During the quarter below evaluate, EBITDA margin stood at 11.5% for Q1FY23 up by 430 bps from Q1FY22.
“With excessive runway for development within the trade, our sturdy product portfolio & lengthy‐standing relationships with OEM’s; we’re assured of outperforming the trade development by rising our pockets share among the many present prospects, addition of our provides within the new launches and addition of recent prospects,” Jain stated.
Source: auto.economictimes.indiatimes.com