Hindustan Motors Q1 Results Revenue ₹87 Lakhs & Net Profit ₹808 Lakhs

Hindustan Motors Q1 Results

Hindustan Motors Q1 Results: Hindustan Motors reported its unaudited financial results for the first quarter of 2024. Hindustan Motors generated a revenue of ₹87 lakhs from operations, which is lower than the ₹188 lakhs reported in the previous quarter and the ₹325 lakhs from the same quarter last year. Their other income for the quarter was ₹831 lakhs, which is significantly less compared to ₹1533 lakhs in the previous quarter but higher than the ₹19 lakhs from the same quarter last year. This brought the total income for the quarter to ₹918 lakhs, down from ₹1721 lakhs in the previous quarter and ₹3016 lakhs in the same quarter last year.

Hindustan Motors’ total expenses were ₹110 lakhs, a slight decrease from ₹111 lakhs in the previous quarter and lower than ₹132 lakhs from the same quarter last year. The profit before tax was ₹808 lakhs, which is lower than ₹1610 lakhs from the previous quarter and a significant turnaround from a loss of ₹113 lakhs in the same quarter last year. 

After accounting for taxes, Hindustan Motors reported a net profit of ₹808 lakhs, compared to ₹1610 lakhs in the previous quarter and a loss of ₹100 lakhs in the same quarter last year. The total comprehensive income for the quarter was ₹813 lakhs, compared to ₹1602 lakhs in the previous quarter and a loss of ₹102 lakhs last year. Earnings per share for the quarter were ₹0.39, a decrease from ₹0.77 in the previous quarter but improved from a negative ₹0.05 in the same quarter last year.

Here's a simplified summary of the unaudited financial results for the quarter ended June 30, 2024:

(in Lakhs)

Source: Here 

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Hindustan Motors Financial Performance

Hindustan Motors table provides key financial details. The company has a market capitalization of ₹653 crore, meaning the total value of all its shares is ₹653 crore. Its current stock price is ₹31.3, with the highest price in the past year being ₹48.7 and the lowest ₹14.3. The P/E ratio is 18.9, indicating the stock price relative to earnings. 

Here is the information presented in a table format:

Quarterly Results 

The table shows the financial performance of Hindustan Motors over several quarters, focusing on key figures like sales, expenses, profit, and income. From December 2023 to June 2024, the company experienced fluctuating results. Sales peaked at Rs. 1.88 crores in March 2024 but dropped to Rs. 0.87 crores in June 2024. 

Here's the table for the quarters of December 2023, March 2024, and June 2024:

About Hindustan Motors

Hindustan Motors, based in Kolkata, India, is a well-known automotive manufacturer founded in 1942 by Brij Mohan Birla. The company was one of the first three car makers in India and was very successful for many years. Hindustan Motors is famous for producing the Ambassador and Landmaster cars, which were popular in India from 1957 to 2014. The Ambassador, based on the 1956 Morris Oxford series III, became an iconic symbol of Indian cars.

Hindustan Motors was the largest car manufacturer in India for decades. However, the company’s dominance declined in the 1980s when the Indian car market was opened up to more competition. This change brought in new car manufacturers and reduced Hindustan Motors' market share. In 2017, Hindustan Motors sold the Ambassador brand and its trademarks to Peugeot SA for ₹80 crore. 

Hindustan Motors’ past success, the company now focuses on automotive parts and has seen a significant shift in its operations. A new model of the Ambassador is expected to be released in December 2024, signaling a new chapter in its history.