The company, which is into cement and jute, attributed the 25% rise in turnover and 159% increase in net profit to increased share of blended cement in overall cement sales, better realisation, higher volumes and operational efficiencies. The jute division is incurring losses. It also reported an exceptional growth in the last quarter of 2006-07, with net profit rising by 51% and turnover by nearly 12%. The company has declared a dividend of 51% for 2006-07.
LMW net up
Net sales of Coimbatore-based Lakshmi Machine Works Ltd (LMW) rose to Rs 1853.58 crore in 2006-07 from Rs 1302.06 crore in the previous year. Allocation for depreciation is Rs 68.75 crore against Rs 55.87 crore. There is no interest charge. Profit after tax is up to Rs 206.19 crore from Rs 144.83 crore in 2005-06.
MCL profit up 290%
Madras Cements Ltd (MCL) has reported 290% growth in its net profit to Rs 308.02 crore during the fiscal ended March 31, 2007 as against Rs 79.02 crore. The total revenue zoomed to Rs 1,582 crore as against Rs 1,013 crore during the previous fiscal. The total dividend has gone up to Rs 25 a share as against Rs 15 a share, said a company statement in Chennai on Wednesday.
Tata Coffee net down
Hit by a price increase in input raw coffee price, Tata Coffee has posted a lower net profit of Rs 20.23 crore for the financial year 2006-07 as compared with Rs 22.32 crore during the previous year. Tata Coffees turnover showed an increase of 41% to record Rs 267.10 crore as against Rs 190 crore.
Britannia profit falls 26%
Food major Britannia Industries Ltd has reported a 26% drop in its net profit for the financial year 2006-07. The company posted a net profit of Rs 107.6 crore for FY07 as against Rs 146.6 crore last year.