Hindustan Motors Ltd (HM) has announced a net profit of Rs 28.76 Crore during the last quarter of 2007. It compensated for the loss it had posted during the corresponding period in 2006. The loss that is recorded was Rs 13 Crore. The doubling of profit was indeed a good kick-start for the upcoming year in 2008.
HM is the flagship company of the C.K. Birla Group. Some of its successful brands in India are the Ambassador, Contessa, and Mitsubishi Lancer. In the MUV segment, the company is known for the Trekker, Porter, and Pushpak.
The press release of the company says that the company incurred a total benefit of almost Rs 148 Crore during the period under review. During the corresponding period of 2006, the company had recorded a higher total income of Rs 168.77 Crore.
The profit before tax during the last three months last year closed at Rs 35.31 Crore compared to the loss incurred in 2006.