Date:26/10/2004 URL: http://www.thehindubusinessline.com/2004/10/26/stories/2004102601980200.htm

Back LMW Q2 net rises 44.6 pc

Our Bureau

COIMBATORE: Textile machinery manufacturing major LMW (Lakshmi Machine Works Ltd) has reported a 44.6 per cent rise in its net profit for the quarter ended September 2004 over the figure recorded in the corresponding quarter of the earlier fiscal.

The company's net profit rose to Rs 14.58 crore (Rs 10.08 crore) during the second quarter of the current fiscal, while the income from operations increased to Rs 230.96 crore (Rs 157.99 crore). A major chunk of the income has come from the textile machinery division.

The company has managed to keep the inventory at low levels and contain expenditure. There is corresponding increase in consumption of raw material to sales. The material consumption increased to Rs 133.84 crore (Rs 87.39 crore) and the staff cost to Rs 20.33 crore (Rs 17.29 crore). Other expenses remained around the same level as in the corresponding period of the earlier year.

Interest expenses doubled to Rs 5.38 crore (Rs 2.07 crore).