Financial Daily
from THE HINDU group of publications
Friday, August 11, 2000
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Financial Daily from THE HINDU group of publications Friday, August 11, 2000 |
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HMT net loss up at Rs 71 cr
Our Bureau
BANGALORE, Aug. 10
HMT Ltd has continued to post a net loss of Rs. 70.91 crores (Rs. 68.87 crores) from a net sales of Rs. 133.82 crores (Rs. 123.10 crores) for the quarter ended June 30, 2000.
The unaudited financial results were taken into account at the PSU's board meeting here on Thursday.
The company posted a net loss of Rs. 296.91 crores (Rs. 36.77 crores) in the year ended March 2000, from a net sales of Rs. 752.38 crores (Rs. 874.22 crores).
HMT noted that the implementation of the turnaround plan would result in formation of wholly-owned subsidiaries for machine tools, watches and Srinagar watch factory.
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