Business Daily from THE HINDU group of publications
Sunday, Jul 29, 2007
ePaper
Business Daily from THE HINDU group of publications Sunday, Jul 29, 2007 ePaper |
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Corporate Results
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Textile Machinery LMW Q1 net rises 40%
Our Bureau Coimbatore, July 28 Lakshmi Machine Works Ltd (LMW) has registered a near 30 per cent increase in net sales in the first quarter of the current fiscal compared to the same quarter last year. The net profit, in spite of higher provisioning for taxation, has gone up by around 40 per cent . According to the unaudited financial results, the net sales/income from operation rose to Rs 483.22 crore from Rs 379.39 crore in the same quarter of last year. After providing for raw material cost, staff cost, other expenditure and depreciation, the profit before tax was Rs 76.48 crore (Rs 55.97 crore). The provision of around Rs 27 crore for taxation brought the net profit down to Rs 49.25 crore that was higher than last year’s first quarter profit of Rs 35.51 crore.
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