HSIL Q2 net up 65% to Rs 230M ($4.7M)

Oct 30, 2011 I Business Standard I New Delhi

Hindustan Sanitary ware & Industries Ltd (HSIL) today said its net profit rose by 65.1% to Rs 230M ($4.7M) for the second quarter ended September 30, 2011, over the same period previous fiscal.

The firm's net sales rose to Rs 2.96B ($61.0M) for the second quarter ended September 30, 2011, compared to Rs 2.15B ($44.3M) in the year-ago period.

Commenting on the results HSIL Joint Managing Director Sandip Somany said, "We believe that the company is well poised to benefit from growing consumer spending in India and strong underlying demand for new houses."

For the six months ended September 30, 2011, the company posted a net profit of Rs 515.2M ($10.6M) compared to Rs 274.6M ($5.6M) in the same period previous fiscal.

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