Lakshmi Machine Works reports 23% fall in Q1 net profit

Lakshmi Machine Works has reported results for first quarter ended June 30, 2016.

The company has reported a fall of 23.30% in its net profit at Rs 33.14 crore for the quarter ended June 30, 2016 as compared to Rs 43.21 crore for the same quarter in the previous year. Total income of the company decreased by 10.38% to Rs 579.83 crore for the quarter under review from Rs 647.01 crore for the corresponding quarter of the previous year.

Lakshmi Machine Works, founded in the year 1962 is a global player and among the top three manufacturers of the entire range of Textile Spinning Machinery ranging from Blow Room to Ring Spinning.