Lumax Industries’ Q1 revenues decline 80.6% y/y to USD10.3 million

Financial results

Revenues decline due to the COVID-19 pandemic which caused suspension of manufacturing activities coupled with lower production by OEMs

Lumax Industries has reported an 80.6% y/y decline in revenue from operations to INR780 million (USD10.3 million) for the first quarter ended 30 June 2020, according to a company press release on 12 August.

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