Leading textile machinery manufacturer – Lakshmi Machine Works (LMW) said its income from operations rose 5 per cent, while net profits slipped in double-digits, both from a year ago quarter, in the three months to September 30 of fiscal year 2014-15.
In the second quarter of fiscal 2014-15, total income from operations at the Coimbatore and India based spinning machinery producer, went up just a notch over 5 per cent to Rs 589.31 crore from Rs 561.05 crore in corresponding quarter of 2013-14.
Net profit slipped in double-digits or 10.27 per cent to Rs 46.84 crore in the second fiscal quarter ending September 30 from Rs 52.21 crore in same quarter of fiscal 2013-14. Resultantly, earnings per share (EPS) also fell to Rs 41.58 from Rs 46.34.
In the unaudited standalone financial results for the second quarter of 2014-15, LMW reported other operating income of Rs 20.22 crore, a marginal hike from other operating income of Rs 20.00 crore in the second quarter of the prior fiscal year.
In the reporting quarter, LMW spent Rs 535.43 crore as operational expense, up 4.89 per cent from Rs. 510.43 crore, it spent last year.
Profit from operations before other income, financial costs and exceptional items climbed 6.44 crore to Rs 53.87 crore in the second quarter of 2014-15 compared to Rs 50.61 crore in the corresponding quarter of 2013-14.
