Net sales in the first quarter of 1998-99 was Rs 212.51 crore. For the year to March 31, 1998, it was Rs 1003.48 crore. The company posted a gross profit (after interest but before depreciation and taxes) of Rs 2.86 crore in this quarter. Depreciation for this quarter has been put at Rs 5.94 crore.`Other income' during the quarter was Rs 83 lakh against Rs 9.01 crore in the year to March 31, 1998. The interest payout was Rs 15.94 crore against Rs 58.32 crore for the full financial year 1997-98.

Hindustan Motors noted that the Lancer car and rural transport vehicle projects as well as the modernisation scheme for the automobile division were progressing satisfactorily. The company had undertaken to manufacture Lancer cars in India in collaboration with MitsubishiMotors Corporation of Japan.