Our Regional Bureau / BUSINESS STANDARD May 22, 2003, 00:00 IST
Coimbatore-based Lakshmi Mills Company has turned around and reported a net profit of Rs 68 lakh for the fourth quarter of 2002-03. It had reported a loss of Rs 2.59 crore for the fourth quarter of 2001-02.
The board of directors recommended a 10 per cent dividend for the year 2002-03. The company has also reported a seven per cent growth in net sales during the last quarter of the previous year. Net sales for Q4 of 2002-03 was Rs 40.45 crore against Rs 37.90 crore for the same period in 2001-02.
Against a loss of Rs 2.38 crore for the financial year ending March 2002, the company has turned around and reported a net profit of Rs 1.73 crore for the year ending March 2003. Turnover for the year ending March 2003 was Rs 169.17 crore against Rs 159.66 crore for the year ending March 2002.
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