Swinging into black, state-owned HMT today reported a net profit of Rs 4.35 crore for the third quarter ended December 31, on the back of higher income from operations.
The Bengaluru-headquartered firm had reported a net loss of Rs 68.4 crore in the corresponding quarter of 2016-17.
Total income from operations rose to Rs 8.14 crore from Rs 5.59 crore in the year-ago period. However, total expenses also shot up to Rs 7.59 crore as against Rs 5.32 crore.
The tractor business of the company had been discontinued as per a decision of the Cabinet Committee on Economic Affairs in 2016-17.
The company's scrip closed at Rs 31, up 3.16 per cent from previous close on BSE.
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