Lakshmi Precision Screws announces impressive Q1 2008-09 results

New Delhi, July 29 (ANI/Business Wire India): One of India's leading automotive high-tensile fastener manufacturers, Lakshmi Precision Screws Limited (LPS), today announced its financial results for the first quarter for fiscal 2008-09.

Highlights

-- Domestic sales recorded an impressive growth of 19.69 per cent, an increase from Rs. 3306.21 lakhs to Rs. 3957.29 lakhs.

-- Export business fetched an increase of 12.22 per cent from Rs. 1437.83 lakhs to Rs. 1613.57 lakhs.

Overview of the results

Lakshmi Precision Screws Ltd. posted an impressive increase of 19.70 per cent in its income at Rs. 5695.01 lakhs as against Rs. 4757.74 lakhs in the corresponding quarter last year.

The company's Profit After Tax (PAT) is up at Rs. 155.15 lakhs from Rs. 147.95 lakhs in the corresponding quarter of the previous year, registering a significant growth of 4.87 per cent.

EBIDTA for the quarter stood at Rs. 965.57 lakhs, an increase of 3.75 per cent as against Rs. 930.63 lakhs in the corresponding quarter last year. The basic EPS stood at Rs. 1.42 against Rs. 1.35 in the corresponding quarter last year.

"An increase in demand for our products from LPS' existing customers in India and overseas favourably impacted the performance of the company in the last quarter and also encouraged us to ramp up our capacities" said Lalit Kumar Jain, Chairman and Managing Director, LPS, here today.

ANI