LMW awared 'Top Exporter in 05-06'
Textile machinery major Lakshmi Machine Works (LMW) has been awarded (under the medium enterprise category) Top Exporter for 2005-06 for its outstanding performance in export of spinning machinery by the Engineering Export Promotion Council, reports Our Bureau in Coimbatore.The award in the form of gold trophy was presented by the Union Commerce Minister, Mr Kamal Nath, to Mr R Venkatrangappan, wholetime director, LMW, at a function held in Kolkata on June 1, according to a press release issued by LMW. LMW clocked a net profit of Rs 68.62 crore for the quarter ending March 31, 2007, down by 16 % over Rs 82.33 crore in the same period last year. Net sales increased to Rs 549.18 crore (Rs 394.74 crore).For the year to March 31, 2007, it reported a net profit of Rs 206.19 crore (Rs 144.83 crore) on a net sales of Rs 1,853.58 crore (Rs 1,302.06 crore).