Register to Subscribe



Home arrow Business News arrow HMT Machine Tools Ltd now has 3352 employees and 5 units: Praful Patel
HMT Machine Tools Ltd now has 3352 employees and 5 units: Praful Patel Print E-mail
Written by Viswanath   
Friday, 19 August 2011
New Delhi: HMT Machine Tools Ltd, which has Units at Bangalore in Karnataka, Pinjore in Haryana, Kalamassery in Kerala, Hyderabad in Andhra Pradesh and Ajmer in Rajasthan, now has 3352 employees. This information was given by the Minister of Heavy Industries and Public Enterprises, Praful Patel in the Lok Sabha today.

He said that a revival package has already been sanctioned to HMT Machine Tools Ltd. With regards to HMT Bearings Ltd. action has already been initiated for obtaining approval of Parliament required for identification of the strategic partner involving majority disinvestment.

HMT Ltd has posted a net loss of Rs.225.00 million for the quarter ended June 30, 2011 as compared to net loss of Rs. 175.60 million for the quarter ended June 30, 2010. The company's Total Income has increased from Rs. 436.10 million for the quarter ended June 30, 2010 to Rs. 454.00 million for the quarter ended June 30, 2011.

HMT Ltd has 3 units, at Pinjore in Haryana, Hyderabad in Andhra Pradesh and Aurangabad in Maharashtra. HMT Watches Ltd. has 4 units at Bangalore in Karnataka, Tumkur in Karnataka and Ranibagh in Uttarakhand. HMT Chinar Watches Ltd. has 2 units at Jammu and Srinagar in Jammu & Kashmir. HMT Bearings Ltd has one unit at Hyderabad in Andhra Pradesh. HMT International Ltd is an export wing.

"Production is reported by all the units except HMT Chinar Watches Ltd. However, HMT Machine Tools Ltd. (with 5 units) and HMT Bearings Ltd. are sick units," said the minister. HMT Bearings Ltd' unit has 80 employees.

The Company has posted a net Loss of Rs 792.40 million for the year ended March 31, 2011 as compared to net loss of Rs 529.10 million for the year ended March 31, 2010. Total Income has increased from Rs 2009.80 million for the year ended March 31, 2010 to Rs 2143.60 million for the year ended March 31, 2011.

The Group has posted a net Loss of Rs 4925.60 million for the year ended March 31, 2011 as compared to net loss of Rs 3296.50 million for the year ended March 31, 2010. Total Income has increased from Rs 4624.20 million for the year ended March 31, 2010 to Rs 4686.70 million for the year ended March 31, 2011.

 
Related news
More recent
Earlier on
< Prev   Next >

Sponsors

Mazak - The world's largest machine tool builder
JYOTI - India's most dynamic machine builder
TaeguTec - Cost effective tooling solutions
Advertisement

<< SHARE

Social

AD

Subscribe

Subscribe to MACHINIST by Email

Search

 
RSS 1.0
© 2020 MACHINIST
This site is best viewed with Firefox 2.0 or higher at a minimum screen resolution of 1024x768