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Monday, September 26, 2022

Luminex posts over Rs. 3 bn turnover – The Morning

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Luminex Ltd., a company engaged in telecommunication engineering, electrical engineering, low tension and high-tension electrical engineering, delivered a financial performance for FY2021/22 ended 31 March 2022, by recording a growth of 22 % in turnover, from Rs. 2,554 million to Rs. 3,121 million. 

Commenting on the recently concluded IPO, Luminex Managing Director Ruwan Fernando said: “We are very pleased with the successful oversubscription of the recent IPO and our outstanding financial results despite the grave challenges facing the nation. The company’s strong reputation in the construction, engineering, and technology sector and its prudent financial management supported its growth trajectory during the year. 

“Our plans to expand operations beyond the shores of Sri Lanka are taking shape. Looking to the future, the company has commenced discussions with foreign parties to extend their business activities by collaborating with outside parties to grow the business beyond their current geographical area and also to find a solution to mitigate the impact of the current economic crisis.”

Luminex was able to report an increased profit by 64% to reach Rs. 489 million in 2022 compared to Rs. 299 million in the previous year.

The Net Profit Ratio also increased from 12% in the previous year to 16% in the current year. Adjusted earnings per share has also increased from 1.81 per share to 2.94 per share. 

Meanwhile, earnings before interest and taxes (EBIT) increased by 49.27% from Rs. 423 million in 2021 to Rs. 632 million in 2022. Further the price to earning ratio stood at 2.72 times, as at 31 March 2022.

Inspired by its success within Sri Lanka, the company plans to expand the operations in the Middle East and expand its geographical footprint further in the near future. Functioning as a pioneering presence in Sri Lanka’s engineering and technology sphere, Luminex is a profitable entity that is geared for growth and counts top companies as clients. 

It is the primary telecommunication engineering services provider for Sri Lanka Telecom and Dialog Axiata, and a civil engineering service provider for the National Water Supply & Drainage Board and the Ministry of Defense and many private and public sector clients.  

 

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