HMT achieves growth rate of 18 per cent in 2005-06

Chandigarh, Apr 5: HMT Limited and its subscribers have achieved a production of Rs 528 crore for the year 2005-06,a growth of 18 per cent over the last financial year and achieved a sales of Rs 541 crore, a growth of 9 per cent.

HMT Limited with tractors as its main product line achieved a growth of 26 per cent in production and sales, and achieved net profit of Rs 12.74 crore. HMT Machine Tool subsidiary achieved production of Rs 277 crore, a growth of 10 per cent and improved its profitability by cutting losses down to Rs 13.59 crore as against Rs 73.80 crore during the last year.

HMT Watches Limtied achieved 51 per cent growth in production to Rs 29.22 Crore and has cut down losses to Rs 74.71 Crore from Rs 134.52 crore. HMT (International) Limited continued to post profit and has achieved Rs 23 lakh profit as against Rs seven lakh during the previous year.

The total revenue of the company stood at Rs 750 crore for the year 2005-06.

UNI