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Textile machinery manufacturing major Lakshmi Machine Works (LMW) registered a marginal decline in its net profit to ₹56.08 crore during the last quarter of FY16 compared to ₹63.49 crore in the previous year period.
Higher provisioning towards depreciation and investments write-off coupled with a rise in employee benefit expense and material consumption costs is said to have pulled down the bottom-line.
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