Hindustan Motors Net Loss Declines 21 Per Cent

Kolkata, May 21: | Updated: May 22 2003, 05:30am hrs
Hindustan Motors Ltd, the CK Birla Group

carmaker, has reported a net loss of around Rs 27 crore for the year to March 31, 2003, a 21 per cent decline over the previous fiscals net loss of Rs 34 crore.

However, it reported a profit before interest and depreciation of Rs 56 crore, a 19 per cent growth over the previous fiscals figure of Rs 47 crore.

Interest outgo declined to Rs 55 crore from Rs 60 crore and depreciation to Rs 42 crore from Rs 41 crore.

Total income declined 11 per cent to Rs 904 crore from the previous fiscals figure of Rs 1,014 crore.

Net sales or income from operations declined to Rs 892 crore from Rs 1,003 crore and the other income increased to Rs 12 crore from Rs 11 crore.

The carmaker was able to shrink total expenditure to Rs 596 crore from the previous fiscals figure of Rs 664 crore.

The earning per share was a negative Rs 1.66 compared with a negative Rs 2.16 recorded during the previous financial year.

Segmentwise, the automobiles division reported a net profit of Rs 1.84 crore on revenues of Rs 823 crore as compared with a profit of Rs 28 lakh on revenues of Rs 941 crore during the previous fiscal.

The automatic transmissions division reported a profit of Rs 16 crore on revenues of Rs 69 crore, against a profit of Rs 13 crore on revenues of Rs 63 crore the previous year.