Lakshmi Machine Works gained 1.33% to Rs 5163.30 after the company's consolidated net profit zoomed 10 times to Rs 33.26 crore in Q3 FY21 from Rs 3.26 crore in Q3 FY20.
Net sales jumped 49.4% to Rs 478.56 crore in Q3 FY21 from Rs 320.33 crore in Q3 FY20. The result was announced after market hours yesterday, 27 January 2021.The company's profit before tax came at Rs 46.62 crore in Q3 FY21, six times higher than Rs 7.46 crore in Q3 FY20. Tax expense jumped to Rs 13.35 crore in Q3 FY21 from Rs 4.2 crore in Q3 FY20.
On the segmental front, the revenue from the textile machinery division was at Rs 328.05 crore (up 40% YoY), revenue from the machine tool & foundry division was at Rs 161.79 crore (up 74% YoY) and the revenue from the advanced technology centre was at Rs 7.45 crore (down 11.7% YoY) during the quarter ended December 2020.
Lakshmi Machine Works is engaged in the manufacturing and selling of textile spinning machinery, computer numerical control machine tools, heavy castings, and parts and components for aerospace industry.
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