Home / Knowledge / News / Textiles / Q2FY15 net profit slips in double-digits at LMW
Q2FY15 net profit slips in double-digits at LMW
29
Oct '14
Leading textile machinery manufacturer – Lakshmi Machine Works (LMW) said its income from operations rose 5 percent, while net profits slipped in double-digits, both from a year ago quarter, in the three months to September 30, 2014 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 percent 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 percent to Rs 46.84 crore in the second fiscal quarter ending September 30, 2014 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 percent from 510.43 crore it spent on operations in the same quarter of 2013-14.

Of this, amount spent on raw materials consumed totalled Rs 362.23 crore, up 4.27 percent, employee expense reached Rs 57.43 crore, down 7.62 percent, other expense touched Rs 93.23 crore, up around 7 percent and depreciation and amortisation expense fell 8 percent.

Profit from operations before other income, financial costs and exceptional items climbed 6.44 crores 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.

LMW reported other income of Rs 26.27 crore in the quarter under review, again marginally down from Rs 26.48 crore. Finance costs too dropped 6.82 percent to Rs 24.84 crore from Rs 26.66 crore in the second quarter of 2013-14.

In the second quarter of fiscal 2014-15, LMW shelled out Rs 26.47 crore as tax, a rise of 8.79 percent from Rs 24.33 crore, the spinning textile machinery manufacturer paid as tax in the second quarter of fiscal 2013-14. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Courtesy:  Pratibha Syntex

Apparel/Garments | On 19th Jul 2018

India's Pratibha Syntex aims $200 mn sales revenue by 2020

Pratibha Syntex, with interests in fibre, spinning, knitting and...

Courtesy: Munich Fabric Start

Fashion | On 19th Jul 2018

Over 100 brands to present denims at Bluezone in Sept

Over 100 international brands will present their denim developments...

Kenya to use Sh6 bn Indian loan to upgrade Rivatex

Textiles | On 19th Jul 2018

Kenya to use Sh6 bn Indian loan to upgrade Rivatex

Kenya will use a Sh6 billion loan from India’s Exim Bank to expand...

Interviews View All

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Marcel Alberts
Eurofibers

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

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

Leave your Comments


July 2018

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

news category


Related Categories:

Advanced Search