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Our Bureau

Coimbatore, Feb. 1 Textile machinery manufacturing major Lakshmi Machine Works has reported a 30 per cent increase in its net profit for the quarter ended December 2007 at Rs 58.45 crore compared with Rs 44.66 crore during the corresponding quarter of the earlier year.

Its income from operations rose 15 per cent to Rs 535.21 crore (Rs 465.43 crore) with the textile machinery division accounting for a major chunk of the revenue. Segment-wise break up of the earnings show that the income from the machine tool and foundry divisions dipped to Rs 43.45 crore in the just ended quarter compared with Rs 48.76 crore during the same period of the previous year.

While the employee cost has hovered around the same level at Rs 34.61 crore (Rs 33.98 crore) during this period, the raw material consumption expenses increased to Rs 323.53 crore (Rs 289.12 crore), depreciation by 70 per cent at Rs 32.76 crore (Rs 19.27 crore) and other expenses to Rs 80.79 crore (Rs 74.99 crore).

The total expenses increased by 11 per cent to Rs 463.14 crore (Rs 414.85 crore).

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