Mumbai, Aug 14 IANS | 3 months ago

Automobile manufacturer Hindustan Motors Thursday reported a net loss of Rs.15.68 crore for the first quarter of the current fiscal.


The company had reported a net loss of Rs.25.10 crore in the corresponding quarter of last fiscal.

Its income from operations fell by 90.65 percent at Rs.8.78 crore from Rs.93.97 crore. The net sales during the quarter under review declined by 91.32 percent at Rs.8.05 crore from Rs.92.76 crore.

According to a corporate filing at the Bombay Stock Exchange, the company said that "The operating results have been adversely affected due to adverse market conditions. The company has also declared 'suspension of work' at its Uattarpara plant as of May 24."

The company said that the management is in the process of restructuring the operations and has hired a consultant to give an external perspective on the challenges and solutions.

The company added that the West Bengal government's claim of Rs.194.47 crore as refund for the sale of excess land at Uttarpara, along with interest, had not been settled under legal advice.

(Posted on 14-08-2014)

Share This Page:


Post your comments


Information on States of India:

Andaman Nicobar | Andhra Pradesh | Arunachal Pradesh | Assam | Bihar | Chandigarh | Chhattisgarh | Dadar Nagar Haveli | Daman Diu | Delhi | Goa | Gujarat | Haryana | Himachal Pradesh | Jammu Kashmir | Jharkhand | Karnataka | Kerala | Lakshadweep | Madhya Pradesh | Maharashtra | Manipur | Meghalaya | Mizoram | Nagaland | Orissa | Pondicherry | Punjab | Rajasthan | Sikkim | Tamil Nadu | Tripura | Uttar Pradesh | Uttaranchal | West Bengal

INDIA REGIONAL MAPS:

Andhra Pradesh Travel Map | Bihar Travel Map | Goa Travel Map | Gujarat Travel Map | Haryana Travel Map | Himachal Pradesh Map | Karnataka Travel Map | Kerala Travel Map | Maharashtra Travel Map | Punjab Travel Map | Rajasthan Travel Map | Sikkim Travel Map | Tamil Nadu Travel Map | Uttar Pradesh Travel Map | West Bengal Travel Map |

KERALA TRAVEL MAPS:

Alappuzha | Ernakulam | Idukki | Kannur | Kasaragod | Kollam | Kottayam | Kozhikode | Malappuram | Palakkad | Pathanamthitta | Thiruvananthapuram | Thrissur | Wayanad |

TRAVEL MAPS OF INDIA:

Airports of India | Districts of India | India Pilgrim Centers | Tourism Map of India | National Highways in India | India Railway Routes |

INDIA CITY MAPS:

Ahmadabad | Bangalore | Chennai | Coimbatore | Delhi | Hyderabad/Secunderabad | Kochi | Kolkata | Mumbai | Pondicherry | Pune | Surat |