State-run diversified manufacturing firm HMT on Friday announced a net loss of Rs 24.25 crore for the second quarter ended September 30, marginally lower than the Rs 24.68 loss it had reported in the same period last year. The company's total income from operations during the September quarter also declined to Rs 15.06 crore as against Rs 17.51 crore during the corresponding period last fiscal. Total expense of the firm declined to Rs 40.64 crore during the quarter under review as against Rs 45.02 crore in the year-ago period, it said in a regulatory filing.
HMT was incorporated in 1953 by the government as a machine tool manufacturing company. Over the years, it has diversified into watches, tractors, printing machinery, metal forming presses, die casting and plastic processing machinery, CNC systems and bearings.
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