| NOVASTAR |
|
BOARD | |
PORTFOLIO | |
News | |
CONTACT |
 |
|
HSIL Q2 net profit moves up 52% to Rs 139.3 million Building products and container glass maker HSIL today reported 52 per cent increase in its net profit to Rs 139.3 million($ 3.1M) for the quarter ended September 30, 2010, over the same period last fiscal.The net profit for the same period last fiscal was Rs 91.5 million ($ 2.03), the company said in a statement.
"The second quarter has contributed healthy results
for each of the business divisions and for the company as a whole. We have
strengthened our operations to leverage our distribution network in the
building products division," HSIL Joint Managing D Sandip Somany said. The total income of the company for Q2 this fiscal was Rs 2,295.4 million ($ 51M) as against Rs 1,7916 million ($ 39.8M) for the same period last year. For the half year ended September 30, 2010, HSIL net profit was at Rs 274.6 M($ 6.1M) as against Rs 115.6 Mn ($ 2.57M) for the same period last year. The total income was Rs 4,606.3 Mn ($ 102.4M), as against Rs.3,447 Mn ($ 76.6 M). HSIL had successfully concluded its capital raising exercise of Rs 1500 Mn ($33.3M) private placement of 11.0 Mn shares at a price of Rs.136.10 per share. The company said it is planning for a capital expansion of its sanitary ware facility at Bibinagar, Andhra Pradesh with an expected increase of 7 lakh pieces per year. "Post this expansion the Bibinagar facility will be the single largest sanitary ware production facility in the country," Somany added. |
|||
| Copyright Novastar |