LMW loses as Q2 disappoints
LMW loses as Q2 disappoints
By Research Desk
about 12 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%.