Lakshmi Machine Works drops after weak Q2 outcome

Lakshmi Machine Works lost 3.27% to Rs 3,960 at 09:25 IST on BSE after net profit declined 10.3% to Rs 46.84 crore on 4.8% growth in total income to Rs 615.58 crore in Q2 September 2014 over Q2 September 2013.

The Q2 result was announced after market hours yesterday, 27 October 2014.

Meanwhile, the S&P BSE Sensex was up 62.15 points or 0.23% at 26,815.05

On BSE, so far 394 shares were traded in the counter as against average daily volume of 3,099 shares in the past one quarter.

The stock hit a high of Rs 4,050 and low of Rs 3,900 so far during the day. The stock had hit a record high of Rs 4,311 on 2 September 2014. The stock had hit a 52-week low of Rs 2,167.65 on 29 October 2013.

The mid-cap company has equity capital of Rs 11.27 crore. Face value per share is Rs 10.

Lakshmi Machine Works (LMW) is a leading textile machinery manufacturer in India and one among the three in the world to produce the entire range of spinning machinery. It caters to the domestic market as well as exports the products to Asian and Oceanic regions.

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