Exceptional gain powers Hindustan Motors to Q1 profit

Moneycontrol Bureau

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