Hindustan Motors March quarter net profit at Rs 12 cr

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Hindustan Motors today posted a net profit of Rs 12.44 crore for the quarter ended March 31.

The company had posted a net loss of Rs 1.16 crore for the same period of previous fiscal.

Net sales of the company declined to Rs 91.72 crore for the quarter while it stood at Rs 172.33 crore for the same period of previous fiscal, Hindustan Motors Ltd said in a filing to the BSE.

"Financial year 2013-14 is for six month period from October 1, 2013 to March 31, 2014 and hence the previous year's figures, which is for eighteen month period ended September 30, 2013 are not comparable," it added.

In a separate filing, the company said its board has approved to delist shares from The Calcutta Stock Exchange.

Hindustan Motors shares today closed at Rs 8.50 apiece on the BSE, up 0.71 per cent from previous close.

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