MUMBAI – Hindustan Motors Ltd., maker of the aging Ambassador car, is sinking deeper into red ink. But it is fighting for survival with financial and organizational restructuring and product diversification. Aging Hindustan Ambassador. Last fiscal year HM revenues fell 19% to $162 million and losses increased threefold to $18 million. This year’s fiscal first-quarter loss was $5.76 million and the second-quarter loss was $11.1 million. Much of the problem is that the auto maker’s ...

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