HMT Q2 loss widens to Rs 31.14 cr

HMT Ltd today reported widening of its net loss for the July-September quarter to Rs 31.14 crore, as against Rs 24.25 crore in the corresponding period of the previous year.
The Bangalore-based firm manufactures tractors and food processing machinery.
Its net income from operations dropped to Rs 6.81 crore during the second quarter from Rs 15.06 crore in the year-ago period.
However, the company's total expenses also reduced to Rs 34.31 crore in the quarter under review, lower than the Rs 40.62 crore incurred in the previous financial year.
Shares of the company closed at Rs 35, down 0.71 per cent from previous close on BSE.