Wednesday, July 29, 2009

Hinduja Foundries posts Rs.10 crore loss

Hinduja Foundries, part of the diversified Hinduja Group, has posted a net loss of Rs.10.44 crore in the quarter ended June 30 as against a profit of Rs.4.57 crore in the like period last year.

The company's turnover for the first quarter stood at Rs.67.03 crore as compared to Rs.125.20 crore a year ago, a fall of 46 percent.

The demand for tractors segment is now better and the demand for commercial vehicles is picking up, said V. Mahadeven, managing director of Hinduja Foundries.

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