Lakshmi Machine Works gained 1.36% to Rs 10,982 after the company reported a 93.5% jump in consolidated net profit to Rs 64.37 crore in Q3 FY22 from Rs 33.26 crore posted in Q3 FY21.
Consolidated net sales grew by 90.5% to Rs 911.7 crore in Q3 FY22 from Rs 478.56 crore posted in the same quarter last year. Profit before tax surged 90% to Rs 88.59 crore in Q3 FY22 from Rs 46.62 crore posted in Q3 FY21.Total expenses spiked by 88.8% to Rs 828.68 crore in Q3 FY22 from Rs 438.85 crore posted in Q3 FY21.
On the segmental front, revenue from Textile Machinery Division was Rs 710 crore (up 116% YoY), Machine Tool & Foundry Division revenue was Rs 214.78 crore (up 32.7% YoY) and Advanced Technology Centre revenue was Rs 13.07 crore (up 75% YoY) in the quarter ended 31 December 2021.
Lakshmi Machine Works is a leading textile machinery manufacturer in India and one among the three in the world to produce the entire range of spinning machinery.
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