Business Daily from THE HINDU group of publications
Tuesday, Oct 17, 2006
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Business Daily from THE HINDU group of publications Tuesday, Oct 17, 2006 ePaper |
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Corporate Results
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Textile Machinery Corporate - Announcements LMW to split shares Our Bureau
Coimbatore , Oct. 16 The textile machinery manufacturing major Lakshmi Machine Works Ltd (LMW) on Tuesday resolved to split the face value of its equity shares to Rs 10 per share against the existing face value of Rs 100. The share price touched a 52-week high of Rs 28,479.90 on Tuesday after opening at Rs 27,490. The company's net profit more than doubled to Rs 5,740 lakh during the quarter ended September 2006 compared to Rs 1,990.61 lakh during the corresponding period of the earlier fiscal. Its net income from operations rose to Rs 45,957 lakh (Rs 32,028 lakh), with the textile machinery division accounting for over 90 per cent of the total revenue. Other income also swelled to Rs 2,155.81 lakh (Rs 889 lakh).
Expenditure increase
There was a comparative increase on the expenditure front as well, with the raw material consumption cost rising to Rs 27,638 lakh (Rs 18,452 lakh), staff cost to Rs 3,102 lakh (Rs 2,669 lakh) and other expenses to Rs 8,250 lakhs (Rs 6,335 lakh). The company has reported higher interest and depreciation cost at Rs 87 lakh (Rs 62 lakh) and Rs 1,529 lakh (Rs 1,015 lakh) respectively.
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