By Aditya Raghunath
Investing.com -- As India continues to grapple with the coronavirus, and work-from-home seems like it will be a regular feature for six more months at least, and school-from-home looks set to extend for another academic year, innerwear companies are seeing a huge uptick in their stock prices.
Dollar Industries Ltd (NS: DLLA ) reported a 59% increase in its net profit for the March 2021 quarter to Rs 19.35 crore compared to Rs 12.19 crore in the March 2020 quarter. Sales were up 30% to Rs 308.31 crore compared to Rs 237.67 crore in the March 2020 quarter.
Lux Industries Ltd (NS: LUXI )' net profit more than doubled from Rs 41.49 crore in the March 2020 quarter to Rs 90.64 crore in the March 2021 quarter. Income from operations was Rs 601 crore compared to Rs 404 crore in the March 2020 quarter.
Rupa Company Ltd (NS: RUCL ) reported a net profit of Rs 65.90 crore for the March 2021 quarter compared to a net loss of Rs 4.28 crore in the March 2020 quarter. Sales increased 153.36% to Rs 453.06 crore compared to Rs 178.82 in the March 2020 quarter.
All three companies have seen their share prices zoom since April 30. Dollar Industries closed June 1 at Rs 316.7, an increase of 32.3% from its April 30 closing price of Rs 239.35.
Lux Industries closed June 1 at Rs 3,014 an increase of 58% from its April 30 closing price of Rs 1,905.35.
Rupa & Company closed June 1 at Rs 476.15, an increase of 59.3% from its April 30 closing price of Rs 298.85.
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