Hindustan Motors clocks net profit of Rs 20.36 crore in December quarter

KOLKATA: CK Birla group's flagship Hindustan Motors clocked a net profit of Rs 20.36 crore in the quarter ended December 31, 2012, against a net loss of Rs 42.81 crore in the corresponding period previous financial year.

In a media statement issued on Thursday, Hindustan Motors MD & CEO Uttam Bose said, "This has been achieved by leveraging the strengths of brand loyalty and operational excellence. With steady and continuous growth in HM's sales numbers, the company's march towards a revival has become more pronounced and promising."

He further added, "regular ramping up of cost-efficient production, in-crease in sales through expanding distribution and financing networks, and focus on voice of customer have contributed to the sharp growth in the past few months.

With several strategic and tactical measures striking roots, Hindustan Motors is all set to continue and sustain the improvement trend in the coming months."

HM sold 826 passenger and light commercial vehicles in February 2013 compared to 310 vehicles sold last February. The company sold 748 vehicles in January 2013 compared to 366 vehicles sold in January 2012.