India’s leading sanitaryware and container glass manufacturer HSIL Ltd has reported good results for the third quarter ended December 31, 2009. With net sales of Rs 2,160M ($47.4M) in Q3 2009-10 as against Rs 1,600M ($35.1M) in Q3 08-09, HSIL recorded an impressive 38% growth, while its turnover crossed Rs 2,000M ($43.9M) in a quarter for the first time in its history.

Sandeep Somany, JMD, HSIL, said, "It is a proud moment for us as we celebrate a record quarterly turnover of Rs 2,000M ($43.9M) for the first time in HSIL’s history. We have surpassed our earlier performances and set more challenging benchmarks for ourselves. Our Q3 results reflect Hindware’s remarkable resilience and illustrate the benefits of key strategic initiatives undertaken over the past couple of years.

For the quarter ended December 31, 2009, the company achieved EBIDTA of Rs 380M ($8.4M), 48% higher than the corresponding period last year. The company’s PBT (profit before tax) for the quarter stood at Rs 150M ($3.3M), 37.6% up from last year’s Rs 109M ($2.4M). The cash profit for Q3 2009-10 stood at Rs 277M ($6.1M), 63% up from the corresponding perdiod last year and the profit after tax (PAT) witnessed an increase of 43% at Rs 99.7M ($2.2M).Rs 99.7M ($2.2M).