Lakshmi Machine rises after turnaround Q1 earnings

25 Jul 2022 , 03:27 PM

Revenue from operations soared 114.73% to Rs 982.63 crore in the quarter ended 30 June 2022 as against Rs 457.62 crore posted in the corresponding quarter previous year. The company reported a pre-tax profit of Rs 94.14 crore in the first quarter as against a pre tax loss of Rs 6.18 crore registered in Q1 FY22. Total expenses spiked 96.52% to Rs 913.37 crore in Q1 FY23 over Q1 FY22. During the quarter, cost of raw materials consumed surged 118.56% to Rs 646.87 crore and employee benefits expense jumped 34.38% to Rs 89.87 crore. On the segmental front, revenue from Textile Machinery Division was Rs 779.29 crore (up 137.55% YoY), Machine Tool & Foundry Division revenue was Rs 231.09 crore (up 71.13% YoY) and Advanced Technology Centre revenue was Rs 20.36 crore (up 150.12% YoY) in the quarter ended 30 June 2022. 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. Powered by Capital Market – Live News