The Hindu Business Line : LMW Q4 net up 20% at Rs 30 cr

, LAKSHMI Machine Works Ltd (LMW) has registered a 20 per cent growth in its net profit for the fourth quarter ended March 2005. The net profit has increased by Rs 5.08 crore to Rs 30.21 crore from Rs 25.13 crore during the corresponding quarter of the earlier fiscal.

Income from operations swelled to Rs 316.99 crore (Rs 212.25 crore), while other income almost doubled to touch Rs 15.9 crore (Rs 7.89 crore).

Company sources attribute this positive growth trend to stepping up of investments by the textile sector. The increased demand for all the products — textile machinery, machine tools and castings — from the LMW stable has enabled it to achieve 49 per cent growth (year-on-year). The company's net sales during 2004-05 rose to Rs 990.77 crore, against Rs 663.50 crore in 2003-04.

The sudden spurt in demand for spinning machinery, the spokesperson said, "resulted in stretching the delivery period. We are however taking effective steps to cut short the delivery period to meet the requirements."

The turnover from the textile machinery division increased by 48 per cent to Rs 835.45 crore (Rs 563.91 crore), while the machine tools division registered a 59 per cent increase in sales to touch Rs 100.83 crore (Rs 63.39 crore). The castings division turnover rose 50 per cent to Rs 55 crore (Rs 36 crore).

Interest outgo has been brought down to Rs 8.1 crore (Rs 10.96 crore).

The board has recommended a dividend of Rs 150 per equity share (of Rs 100 each).

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