HMT Q1 net loss widens to Rs 22 cr

HMT today said its net loss widened to Rs 22.50 crore for the quarter ended June 30, 2011.

The company's net loss has widened from Rs 17.56 crore in the corresponding quarter previous fiscal, it said in a filing to the Bombay Stock Exchange (BSE).

The company's net sales for the three months ended June 30, 2011 increased 2.02% at Rs 42.35 crore as against Rs 41.51 crore in the same period previous fiscal.

HMT makes watches, tractors, printing machinery, metal forming presses, die casting and plastic processing machinery, CNC systems and bearings.

The company's shares closed at Rs 50, up 0.40% compared to its previous close on the BSE.