Hindustan Motors posts Rs 17 crore loss
Hindustan Motors Ltd., part of the CK Birla Group, has posted a net loss of $3.6 million (about Rs 17 crore) for the second quarter this fiscal, significantly worse than the $62,000 loss it posted in the year-ago period. ‘Rising input costs, foreign exchange rates and paucity of retail finance have impacted the quarter’s performance,’ said a company statement.
Apart from the Ambassador, Hindustan Motors also sells the Mitsubishi’s Lancer and Cedia sedans, and the Mitsubishi Pajero, Montero and Outlander SUVs in India, in a JV with Mitsubishi Motors of Japan.
[via: indiaautomotive]
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