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Even while the spinning sector of the textile industry proclaims that it is reeling under severe pressure, textile machinery manufacturing major Lakshmi Machine Works (LMW) seems to have sustained its position.
“We have managed because of the ongoing projects, especially value-addition processes,” Chief Financial Officer R Rajendran told BusinessLine .
The company clocked a net profit of ₹56.48 crore at the end of the second quarter of this fiscal against ₹46.84 crore.
Net income from operations rose by ₹30.5 crore to ₹619.81crore at the end of the second quarter of the current fiscal (₹589.31 crore), while profit from operations (before other income, finance cost and exceptional items) slipped marginally to ₹52.81 crore (₹53.87 crore).
Without divulging details about the order book, he maintained that it was more or less at the same level.
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