Lakshmi Machine Works Ltd has announced its Unaudited results for the quarter ended June 30, 2008. The company's net sales and income, this quarter, is down nearly 5%, compared to last year.
There was a decline in earnings from the company's textile machinery division. However the machine tool and foundry divisions have registered growth.
LMW posted a net profit after tax of Rs 477.388 million for the quarter ended June 30, 2008 as compared to Rs 492.588 million for the quarter ended June 30, 2007.
LMW's machine tool and foundry divisions registered a revenue of Rs 442.2 million for the quarter ended June 30, 2008 as compared to Rs 414.1 million for the quarter ended June 30, 2007.
Total Income has decreased from Rs 5006.248 million for the quarter ended June 30, 2007 to Rs 4842.942 million for the quarter ended June 30, 2008.
According to a report carried in the Business Line the fall in revenue was due to a decline in earnings from the company's main source of income - the textile machinery division.
The textile machinery division registered a revenue of Rs 4303.2 million for the quarter ended June 30, 2008 as compared to Rs 4526.0 million for the quarter ended June 30, 2007.
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