No adverse financial impact due to Covid-19: Hindustan Motors

Hindustan Motors (HM) on Monday said there is no adverse financial impact on the company due to the coronavirus pandemic.

Hindustan Motors is best known for the Ambassador car which now mostly serves as taxis in cities like Kolkata and Delhi. (REUTERS)
Hindustan Motors is best known for the Ambassador car which now mostly serves as taxis in cities like Kolkata and Delhi.

In view of outbreak of Covid-19 and the subsequent lockdown imposed by the central and state governments, the company is closely monitoring the impact of this pandemic, Hindustan Motors said in a regulatory filing.

Also Read : Remember Hindustan Motors' iconic Contessa? Here is its EV concept avatar

There has been no significant adverse impact on the company's financial position for the financial year ended March 31, 2020, as both of its manufacturing plants located at Uttarpara (West Bengal) and Pithampur (Madhya Pradesh) were already under "suspension of work/layoff" prior to imposition of lockdown, it added.

The company had closed Uttarpara plant citing severe cash crunch due to poor sales of Ambassador cars.


First Published Date: 22 Jun 2020, 13:54 PM IST
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