Hindustan Motors reports net loss

Kolkata, Jul 28 (UNI) Hindustan Motors Ltd today reported Q1 net loss of Rs 20.5 crore as compared to profit of Rs 102.55 crore in the corresponding period last year.

The company's net sales for quarter was Rs 141.47 crore as against Rs 211.34 crore in the same period last year.

Company chairman C K Birla told reporters that the company was awaiting government approval for developing 314 acres of land at its Uttarpara factory.

The company would develop residential complexes, export oriented auto-component park and IT park in the Uttarpara complex once it gets government approval, Birla said in the sidelines of the company's annual general meeting.

The company launched the luxurious sports utility vehicle Montero and the first consigment would commence from the second week of August, he said.

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