"Total income from operations (net), however, marginally increased 2.9 per cent to Rs 285 crore for the fiscal under review from Rs 277 crore in FY 2015," said the city-based ailing public sector enterprise...
in a regulatory filing to the BSE.
The beleaguered company's total expenses at Rs 548 crore for the fiscal was lower than Rs.588 crore it incurred in FY 2015.
The company's scrip of Rs 10 per share traded flat on the BSE and ended at Rs 38.45, a marginal decline of over its previous closure price of Rs 38.60 on Friday last week.
Once a time-keeper of the nation, Hmtmakes more tractors and other products than wrist watches after the entry of private players like Titan and opening up of the market to foreign brands.
The Cabinet Committee on Economic Affairs (CCEA) on January 6 approved the closure of the company's three loss-making subsidiaries, including two watch units at Tumakuru in Karnataka and at Ranibagh in Uttarkhand and bearings unit in Hyderabad.
Earlier, in May this year, HMT had posted a net profit of Rs 48.61 crore for the fourth quarter ended March, 31, 2016, against a loss of Rs 25.19 crore in the same period of previous year.
Total income from operations of HMT fell to Rs 8.93 crore during the January-March quarter, from Rs 15.32 crore in the corresponding quarter of 2015.
Its total expenses too declined to Rs 42.08 crore during the quarter under review, as against Rs 45.23 crore in the year-ago period.
The company reported 'other income' of Rs 91.08 crore for the last quarter of FY2015-16 against that of Rs 11.07 crore in the year ago period.