Home / Knowledge / News / Textiles / Lakshmi Machine Works net profit declines in Q3
Lakshmi Machine Works net profit declines in Q3
25
Jan '12
Lakshmi Machine Works (LMW) Limited, a leading textile machinery manufacturer in India and among the top three in the world to produce the entire range of spinning machinery, has posted a net profit of Rs. 396.5 million during the third quarter (Q3) of the current fiscal year 2011-12.

This is a decline of Rs. 61.7 million from the same period of previous fiscal and Rs. 95.9 million compared to the earlier quarter of the current fiscal.

During the October-December 2011 quarter, LMW's registered total earnings of Rs. 5.382 billion, compared to its total earnings of Rs. 4.908 billion during the same period last fiscal. However, there was a drop of Rs. 431.2 million compared to the income earned during the second quarter of the current fiscal.

LMW accounted the decline in profits to 'reduction in schedule'. The manufacturing schedule is decided on the basis of confirmation of requirements from the customer, and a delay in doing so on the part of a customer leads to postponement of manufacturing schedule.

Several textile mills have incurred losses during the second half of last year owing to increase in the price of cotton. Hence, many units are currently not eager to undertake proposals related to new project or upgrading their plant, according to LMW's Director (Finance) Mr. R Rajendran.

At present, around 80 percent of LMW's production capacity is being utilized and the company is executing orders received during 2010-11, he said.

LMW's China project, which at present is only engaged in the production of ring frames, is witnessing good order inflow and the company plans to add more products soon, he added.

Fibre2fashion News Desk - India


Must ReadView All

Surat wary of e-way bills

Textiles | On 24th Feb 2018

Surat wary of e-way bills

There is no respite for Surat’s textile manufacturers and retailers....

Retailers choose sides in Alibaba-Tencent battle in China

Apparel/Garments | On 24th Feb 2018

Retailers choose sides in Alibaba-Tencent battle in China

Two big Chinese firms— Alibaba Group Holding Ltd and Tencent Holdings ...

Jharcraft in India’s Jharkhand signs MoU with Banka Silk

Textiles | On 24th Feb 2018

Jharcraft in India’s Jharkhand signs MoU with Banka Silk

The Jharkhand Silk Textile and Handicraft Development Corporation...

Interviews View All

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search