..
Powered by the performance of its textile machinery division, Coimbatore-based Lakshmi Machine Works Ltd (LMW) saw its net sales and net profit soar in the first quarter of the current fiscal compared to the corresponding quarter of 2009-10. According to the unaudited financial results, the net sales in the first quarter ended June 30, 2010, were Rs 334.05 crore, compared with Rs 186.52 crore in the same period last year. The total expenditure was Rs 314 crore (Rs 189.82 crore). After providing for tax, the net profit nearly trebled to Rs 30.09 crore in Q1 of the current fiscal (Rs 11.12 crore). The EPS surged to Rs 24.33 (Rs 9). The textile machinery division accounted for a lion's share of the turnover at Rs 302.95 crore (Rs 160.84 crore) with other divisions contributing Rs 44.66 crore to sales (Rs 32.40 crore). — Our Bureau
29 July, 2010 by admin