INDIA: Hindustan Motors posts net profit of US$2m
For the quarter ended 31 March 2014, Hindustan Motors' net sales fell to INR917.2m (US$14.9m), from INR1.72bn a year ago. The company recorded a profit of INR124.4m, compared with a loss of INR11.6m in the same period of the previous fiscal year.
The automaker said, because its financial year 2013-14 was for just six months, it was not detailing year on year comparisons.
The company's board approved the proposal to delist from the Calcutta Stock Exchange.