Lakshmi Machine Works gains after blockbuster Q3 outcome

Lakshmi Machine Works advanced 3.97% to Rs 2,840 at 11:03 IST on BSE after net profit jumped 174.34% to Rs 52.40 crore on 46.19% growth in total income from operations (net) to Rs 629.63 crore in Q3 December 2013 over Q3 December 2012.

The Q3 result was announced after market hours on Monday, 20 January 2014.

Meanwhile, the S&P BSE Sensex was up 78.85 points or 0.37% at 21,283.90

On BSE, so far 1,777 shares were traded in the counter as against average daily volume of 2,446 shares in the past one quarter.

The stock hit a high of Rs 2,869 and low of Rs 2,799.95 so far during the day. The stock had hit a 52-week high of Rs 2,920 on 26 December 2013. The stock had hit a 52-week low of Rs 1,725.10 on 31 July 2013.

The stock had underperformed the market over the past one month till 20 January 2014, falling 1% compared with the Sensex's 0.59% rise. The scrip, however, outperformed the market in past one quarter, gaining 25.80% as against Sensex's 1.54% rise.

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

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. It caters to the domestic market as well as exports the products to Asian and Oceanic regions.

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