Hindustan Motors posts Rs 16 cr net profit in Q3

Hindustan Motors, maker of iconic Ambassador cars, today reported a net profit of Rs 15.80 crore for the quarter ended December 31, 2010.

The company had posted a net loss of Rs 24.89 crore in the corresponding period previous year, Hindustan Motors said in a filing to the Bombay Stock Exchange (BSE).

The net sales during the third quarter of this fiscal stood increased by 1.06 per cent to Rs 151.60 crore from Rs 150.01 crore in the year-ago period, it added.