Financial Daily from THE HINDU group of publications
Saturday, Nov 06, 2004

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Corporate - Performance


HMT back in black on higher sales, revamp

Our Bureau

Bangalore , Nov. 5

HMT Ltd showed signs of recovery due to an overall improvement in its sales performance and the financial restructuring in the last one year.

The company with a buoyant tractor demand in the country reported profit before tax of Rs 11 lakh during the quarter ended September 2004 as against a net loss of Rs 10.5 crore for the corresponding period last year.

HMT posted a sales turnover of Rs 44.2 crore during the second quarter of the current fiscal. It posted higher earnings on account of demand for its 40 hp tractors and also hiked prices to cover input costs. Sales increased by about 20 per cent during the quarter. The companycontained its net loss during the first half of the current fiscal at Rs 15.40 crore (Rs 27.88 crore).Mr M.S. Zahed, Chairman and Managing Director, said the restructuring exercise undertaken in the last one year, has borne results with the year-on-year sales up to October improving by 52 per cent (tractors) and 17 per cent (machine tools).

More Stories on : Performance | PSU

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
BHEL facility inaugurated in Hyderabad


Gillette takes a swipe at fakes
Bajaj Hindusthan begins production at UP plant
Corus plans investment in flat products in India
Petronet LNG: Correction
When companies can sweat it out...
Morarjee Goculdas obtains HC nod to distribute MBL shares
`CAs ready to tackle global competition'
XLRI proposes EPFO revamp
HC clears Matrix Labs merger proposal
United Phosphorus' US arm acquires AG Value for $36 m
Henkel Spic board to consider merger
Plus Paper to set up facility in HP
Banswara board okays new plant
Ministry chalks out measures to safeguard investors
RCF hopes to do better in second-half
Panel seeks time to submit report on IDPL revival
BIFR orders winding up of Autokast
Biocon to focus on insulin-based molecules — To launch own brand in 2 weeks
HMT back in black on higher sales, revamp
Tata Motors' Oct sales up 31.3 pc
Amway posts Rs 636-cr sales



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line