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HMT registers 9% sales growth

State-owned HMT Limited reported a consolidated sales growth of 9 per cent at Rs 541 crore for the year ended March 31.

india Updated: Apr 05, 2006 17:53 IST

State-owned HMT Limited on Wednesday reported a consolidated sales growth of 9 per cent at Rs 541 crore for the year ended March 31.

Production during the year grew by 18 per cent at Rs 528 crore for the year ended March 31, a company spokesperson said here.

He said the company's tractor business achieved a net profit of Rs 12.74 crore with production and sales achieving a combined growth of 26 per cent.

Production in HMT Machine Tool, another subsidiary of the company, grew by 10 per cent at Rs 227 crore as against Rs 73.80 crore during the last fiscal, he said.

HMT Watches Limited posted a 51 per cent jump in production to Rs 29.22 crore and has cut down losses to Rs 74.71 crore from Rs 134.52 crore, he said adding that HMT (International) Limited continued to post profit and has achieved a profit of Rs 23 lakh as against Rs 7 lakh during the previous year.

The total revenues of the company stood at Rs 750 crore for the financial year 2005-06, the spokesman said.

HMT invests Rs 5 cr for emission testing lab

The company has invested Rs 5 crore for establishing a high tech engine emission testing laboratory in Research and Development centre at its tractor division at Pinjore.

The laboratory, first of its kind in the northern region, would help in the development of the company's tractor engines for better performance as well as compliances to current norms that are likely to be implemented by the Tractor Industry in 2008, the company informed the Bombay Stock Exchange.

The laboratory has been equipped with exhaust gas analyser for measurement of pollutants like carbon monoxide, hydrocarbons and smoke meter, fuel consumption meter and the test equipments have been sourced from the world renowned engine testing company, it said.