India's Hindustan Motors says Q2 net up 44.4 pct

Newswire

NEW DELHI, Oct 30 (Reuters) - Hindustan Motors Ltd, one of India's oldest car companies, said on Wednesday second-quarter net profit soared 44.4 percent from a year ago to 38.7 million rupees helped by cost cuts. The Calcutta-headquartered maker of vehicles such as the Ambassador car and the Mitsubishi Lancer, said the July-September profit represented a turnaround after a gap of three years. "Due to sustained cost reduction measures...localization efforts in the respect of Lancer cars ...

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