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Exceptional gain powers Hindustan Motors to Q1 profit

Hindustan Motors, maker of the iconic Ambassador car, reported a net profit of Rs 17.20 crore in the first quarter, compared with a Rs 19.73 crore loss a year ago, boosted by one-time gain from profit on sale of immovable properties and investments.

August 04, 2011 / 03:32 PM IST
 
 
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Hindustan Motors, maker of the iconic Ambassador car, reported a net profit of Rs 17.20 crore in the first quarter, compared with a Rs 19.73 crore loss a year ago, boosted by one-time gain from profit on sale of immovable properties and investments.

However, barring the exceptional gain of Rs 47.63 crore, the loss widened over 21% year-on-year to Rs 25.16 crore, as sales continued to decline. In the April-June quarter Hindustan Motors

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