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Hindustan Motors Ltd has reported a net loss of Rs 15.68 crore in the April-June quarter of 2014-15.
The company said accumulated losses till March 31 were Rs 152 crore against share capital of 92.47 crore. It also said its current liabilities till March 31 exceeded its current assets by Rs 87.71 crore.
It, however, said the West Bengal Government’s claim for refund of the excess of Uttarpara land sale proceeds of Rs 194.47 crore, along with interest, had not been provided for on legal advise. The company was referred to the BIFR in February this year and in May it declared suspension of work.
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