Hindustan Motors register Profit of Rs 15 crore in Q3

Hindustan Motors the Indian automobile manufacturer today astound the auto industry by marking a net profit of Rs 15.80 crore in the 3rd Quarter. As per the company's financial statements, the same quarter in last year brought a loss of Rs 24.89 crore. The company holds a prominent position in the history of Indian Automobile industry as Hindustan Motors has bestowed it with iconic Ambassador.

During the 3rd Quarter of running fiscal year a hike of 1.06 per cent was observed in net sales amounting to Rs 151.60 crore against the Rs 150.01 crore marked in last fiscal year. The profit on sale of fixed assets and investment is also included which amounts to Rs.43.59 in the 3rd Quarter.

As per the recent activities, Proton, the Malaysian based auto maker is rumored to be in talks with Hindustan Motors in order to make use of the company's Chennai cased manufacturing facility and and manufacture vars under their logo for Indian auto market.

Recently, the company signed an accord with the IndusInd Bank, a renowned financial institution in India. The association marked Hindustan Motors' first ever association with a private entity. Recently an MoU was signed between the two companies which included an attractive and customized financing solutions to company's customers in India.

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