An erosion in net sales has led to Kolkata headquartered automobile maker Hindustan Motors Ltd reporting a net loss of INR 22 crore for the quarter ending September 2011. The loss could have increased barring the INR 10 crore income through sale of properties and investments.

The company had reported a net profit of INR 12 crore during the corresponding quarter last fiscal riding on its INR 29 crore income from ‘exceptional items'. During the July to September quarter, the CK Birla controlled company reported a 29% drop in net sales to INR 145 crore against the INR 204 crore for the corresponding quarter last fiscal.

(Sourced from BL)