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Coimbatore, Oct 30

The LMW (Lakshmi Machine Works Ltd) Board has decided an interim dividend of Rs 20 per equity share of Rs 10 each for 2007-08. The board, which met here to review its performance, has fixed November 21 as the record date for payment of the interim dividend. Its net profit increased by 29.9 per cent to Rs 74.59 crore during the second quarter of the current fiscal compared to Rs 57.40 crore during the corresponding period of the earlier year. Income from operations – comprising textile machinery division’s revenue and machine tools and foundry division income – rose to Rs 582.74 crore (Rs 459.57 crore), while other income increased by Rs 2 crore to Rs 23.58 crore (Rs 21.55 crore).

– Our Bureau

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