Home / Knowledge / News / Textiles / Lakshmi Machine Works net profit dips in FY12
Lakshmi Machine Works net profit dips in FY12
28
May '12
Lakshmi Machine Works Limited (LMW), a leading textile machinery manufacturer in India, has posted net profit of Rs. 1.37 billion during fiscal year 2011-12 ending March 31, showing a 17 percent decline compared to net profit of Rs. 1.66 billion registered during fiscal 2010-11.

However, LMW's net sales increased by 17 percent year-on-year to Rs. 21.13 billion during last fiscal over its net sales of Rs. 18.04 billion reported during fiscal 2010-11.

The Coimbatore-based company's exports too grew to Rs. 3.21 billion during last fiscal, as against its exports worth Rs. 2.84 billion during the previous year. Last fiscal's figures include exports of machinery parts worth Rs. 730 million made by the company to its China-based subsidiary.

For the January-March 2012 quarter, LMW's net profit declined to Rs. 69.9 million, as against its net profit of Rs. 444 million reported during the same quarter of earlier fiscal.

Similarly, income from operations of the company slipped to Rs. 5.02 billion during the fourth quarter of last fiscal from Rs. 5.35 billion achieved during the last quarter of 2010-11.

LMW attributed the decline in net profits to several factors, including shortage of power in Tamil Nadu, lukewarm response to the Technology Upgradation Fund Scheme (TUFS) and no major announcement to boost the textile sector in the recent Budget.

The company, however, said that the new range of machineries rolled out by it during the last fiscal year received good response from textile mills.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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



X