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HBL Power Systems Ltd has posted a loss of Rs 13.31 crore for the third quarter ended December 31, 2010, against a net profit of Rs 21.98 crore for the corresponding quarter last year. The company logged lower net sales income of Rs 223.37 crore against Rs 247.27 crore it registered same period last year.
In a statement to the exchanges, the company mentioned that deep decline in demand from the telecom sector was compounded by increasing lead prices. This could not be passed through to the customer in an environment favouring buyers. The company expressed that the situation is likely to improve.
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