Lakshmi Machine Works posts standalone Q3 net at Rs 6.49 cr

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Textile machinery manufacturer Lakshmi Machine Works on January 27 said it has reported standalone net profits at Rs 6.49 crore for the quarter ending December 31, 2019.

The Tamil Nadu-based company recorded net profits at Rs 62.38 crore during the corresponding quarter of last year.

For the nine-month period ending December 31, 2019 the net profits dropped to Rs 37.98 crore from Rs 152.49 crore registered last fiscal.

Total income from operations for the October-December quarter slipped to Rs 337.52 crore from Rs 661.20 crore registered the same period last year.

For the nine-month period ending December 31, 2019, the total income from operations dropped to Rs 1,246.54 crore from Rs 2,131.18 crore registered during the same period last fiscal.

The company shares ended at Rs 3,614.50 a piece down by 0.43 per cent over previous close on the BSE.