Coimbatore, May 10: Lakshmi Machine Works Ltd (LMW) has posted a higher turnover of Rs 431.21 crore for the 1999-2000 financial year compared to Rs 410.82 crore achieved during the previous year. Turnover for the last quarter of the year, at Rs 164 crore, is higher than that achieved during the first half of the year.As per the audited financial results released by the company on Wednesday, the net profit stood at Rs 21.92 crore against last year's Rs 8.41 crore. The staff cost for the year is down to Rs 47.35 crore (Rs 67.61 crore) following a lower outgo for voluntary retirement scheme. The VRS for the year was only Rs 31.46 lakh compared to previous financial year's Rs 19.03 crore. The company had paid an interim dividend of Rs 30 per equity share of Rs 100 each earlier.
The depreciation provision is lower at Rs 35.85 crore (Rs 45.28 crore) and taxation provision at Rs 4.50 crore (Rs 6 crore). Interest for the year is Rs 17 crore (Rs 9.94 crore) while the other income stood at Rs 14.52 crore (Rs 16.38 crore).
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