New Delhi: Hindustan Motors has significantly brought down the losses for the quarter ended 30 June 2002 in comparison to the corresponding period last year.

Losses after providing for depreciation, interest and taxes is at Rs 86 lakh as compared to Rs 2,577 lakh in the corresponding period last year. Since there is a depreciation charge of Rs 1,041 lakh, there is a cash profit of Rs 955 lakh during the quarter.

The company has avoided cash losses for the second successive quarter. Compared to last year, all the business units of the company have done better in this year.

Sales of vehicles during the quarter were 5,681 units, compared to 5,189 units in the corresponding period the previous year.