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Government-owned diversified manufacturing company HMT Ltd on Monday announced a net loss of Rs.25.22 crore in the first quarter of 2015-16, eight percent over the Rs.23.32 crore losses it made in the same period last year.
In a filing to the Bombay Stock Exchange, the company said its total income from operations also declined to Rs.10.53 crore in the quarter as compared to Rs.13.03 crore in the same period last fiscal, a fall of 19.18 percent.
The company's total expenses also declined from Rs.39.61 crore to Rs.37.41 crore.
HMT was incorporated by the Indian government in 1953 as a machine tool manufacturing company, and later diversified into watch making, tractors, printing machinery, metal-forming presses, die casting and plastic processing machinery and CNC systems and bearings.
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