Financial Daily from THE HINDU group of publications
Saturday, Jan 29, 2005
Financial Daily from THE HINDU group of publications Saturday, Jan 29, 2005 |
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Corporate Results
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Textile Machinery Lakshmi Machine Works net climbs 47 pc Our Bureau
Coimbatore , Jan. 28 MACHINERY manufacturing major Lakshmi Machine Works has recorded a 47-per cent jump in its net profit for the quarter ended December 2004, compared to the corresponding period of the earlier fiscal. Its net profit at Rs 14.72 crore in Q3 was close to the Rs 15-crore mark, as against Rs 9.99 crore during the same quarter of 2003. Income from operations increased to Rs 254.70 crore (Rs 180.93 crore), with the textile machinery division contributing to a major chunk of the income. The machine tools and foundry divisions income was just about 10 per cent of the total income from operations. Other income rose by more than Rs 1 crore to Rs 4.98 crore (Rs 3.20 crore). But for the staff cost, which slipped to Rs 22.50 crore (Rs 31.42 crore), all other expenses moved up. Raw material consumption rose to Rs 148.47 crore (Rs 90.17 crore), while other expenditure more than doubled to Rs 47.79 crore (Rs 20.23 crore). Interest outgo, however, dipped sharply from Rs 4.84 crore during the third quarter of 2003 to Rs 0.41 crore for the quarter ended December 2004. After providing Rs 9.22 crore (Rs 26.90 crore) for depreciation, the profit before tax stood at Rs 27.21 crore (Rs 15.27 crore).
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