BANGALORE, Apr 8: HMT Ltd has posted a sales turnover of Rs 838 crore during the fiscal 1998-99, a company release said. During the period the company has improved its bottom line by reducing its net loss to Rs 14.94 crore as against Rs 23.94 crore of the previous year.HMT has improved its net worth to Rs 45.78 crore during the last fiscal.
To achieve a turnaround during the year 1999-2000, HMT has started implementing its strategic plans which comprises organisational restructuring, manpower rationalisation and financial restructuring.
The plan would also include formation of subsidiaries and setting up of joint ventures and alliances. Currently, the turnaround plan is being processed for government's approval.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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