LMW loses as Q2 disappoints
By
Research Desk
about 10 years ago
Lakshmi Machine Works (LMW) is currently the top loser on the BSE, opening Rs.43 lower and now 4% down at Rs.3944, with an intra day low at Rs.3900.
The company posted a disappointing set of numbers for Q2FY15. Lower sales, exceptional expense on account of VRS led to the company ending the quarter with a net profit at Rs.47 crore, down 10% (YoY) and flat sequentially. Net sales came in at Rs.569 crore, up 5% (YoY). The flagship segment, which is Tools Machinery, did not do well with flat revenue growth and EBIT falling 15%.