Home / Knowledge / News / Textiles / Lakshmi Machine Works feels heat of slowdown
Lakshmi Machine Works feels heat of slowdown
12
Jun '09
Lakshmi Machine Works Ltd, the Coimbatore based well known manufacturer of textile machinery has reported a dip in net sales as well as a substantial dip in net profits for the fiscal year as well fourth quarter ending in March 2009.

For the fiscal that ended in March 2009, sales slipped to Rs 13.38 billion and net profits fell to Rs 1.06 billion from Rs 22.05 billion in net sales and Rs 2.42 billion in net profits recorded in the previous fiscal ending March 2008.

In the fourth quarter of the fiscal in consideration, net sales declined to Rs 1.80 billion and net profits Rs 80.4 million when corresponded with Rs 6.03 billion and Rs 6 billion respectively registered in the quarter ending March 2008.

The fall in sales and net profits, more so in the fourth quarter of the fiscal ended March 2009, is a direct fall out of the slowdown in the textile industry due to which new investments in machinery and equipment was put on the back burner.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 26th May 2017

Lenzing unleashes new eco-friendly fibre

There's a new eco-friendly fibre on the anvil—Austrian speciality...

Apparel/Garments | On 26th May 2017

PVH Corp Q1 2017 revenue rises 4%

The first quarter revenue of fiscal 2017 at apparel marketer PVH Corp ...

Courtesy: Levi Strauss & Co

Apparel/Garments | On 26th May 2017

LS&Co. to fund water saving solutions

LS&Co. will fund to the tune of more than $350,000 the solutions...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mohammad Hassan
Biax Fiberfilm

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

Judy Frater
Somaiya Kala Vidya

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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:
May 2017

May 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