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Lakshmi Machine Works has registered a 91 per cent jump in its net profit at the end of the first quarter of the current fiscal to Rs 48.56 crore compared to a year-ago figure of Rs 25.37 crore.
Its top line grew 37 per cent to Rs 571.51 crore (Rs 416.84 crore).
While both the top line and bottom line grew on a year-on-year basis, its performance in sequential quarters took a hit.
Its income from operations fell to Rs 571.51 crore at the end of the first quarter of the current fiscal compared with Rs 634.08 cr clocked at the end of the last quarter of the previous fiscal.
Its net profit too fell to Rs 48.56 crore at the end of the quarter ended June 30, 2014 from Rs 53.70 crore in the three months ended March 31, 2014.
Export front
The company's Finance Director Rajendran said that the textile machinery manufacturing major had done well on the export front with the export turnover at the end of the just ended quarter doubling to Rs 111 crore compared with Rs 51 crore achieved at the end of the corresponding quarter of the previous fiscal.
“Our share in the export market has increased; it is close to 60 per cent in the domestic market,” he said, referring to LMW's market share.
Order flow is more from the South, than from the north. South is strong for LMW, he added.
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