Maker of iconic Ambassador cars, Hindustan Motors Ltd (HML), owned by the C.K. Birla Group, Tuesday posted a net loss of Rs.1.16 crore in the quarter ended March 31, 2013, as against net profit of Rs.18.01 crore during the same period previous year.
Net sales of the city-based firm during the period under review, however, increased to Rs.173.03 crore from Rs.132.83 crore during the corresponding period a year ago, Hindustan Motors informed Bombay Stock Exchange (BSE) in a regulatory filing.
For the full year, the automobile company's net loss stood at Rs.46.39 crore in fiscal 2012-13 compared to net loss of Rs 29.96 crore during 2011-12.
