HIL Ltd reports strong growth in revenue and profitability in September quarter
Kolkata/IBNS: Part of the USD $2.5 billion CK Birla Group, HIL Limited, a leading building material solutions company, reported that in the second quarter (ending Septmeber 30, 2019) of the financial year 2020, its revenue was up by 42% to Rs. 586 crore against Rs. 413 crore over the same quarter of FY19.
Consolidated EBITDA stood at Rs. 60 crore compared to Rs. 71 crore for the same quarter last year, a decline of 15% year-on-year on account of tough market conditions and huge pressure on raw material prices during the quarter.
Consolidated Profit after tax showed 164% increase at Rs. 32 crore as the company choose to excersise the option permitted under Section 115BAA of the income tax act, 1961 as introduced by Taxation Laws (Ammendment), Ordiance 2019.
Dhirup Roy Choudhary, Managing Director, HIL Limited said, “Despite an environment of general slowdown in economy, muted demand for construction and building materials, and higher raw material costs, HIL Ltd has delivered growth in revenue and PAT in Q2 FY 2019-20. Our international acquisition is improving at the right pace and we are very confident of exceeding our own expectations. This is the result of the several steps undertaken to improve the efficiencies of operating processes focus on cost and productivities across the enterprise to minimize the impact of external factors. I strongly believe that these practices will continue to drive HIL’s growth and reflect positive numbers in the upcoming quarters. Going forward, we will focus on retaining our position of a leading, global, innovative, and eco-friendly building and infrastructure solutions company and creating sustainable value for our stakeholders.”
HIL has 6 major brands- Charminar, Birla Aerocon, Charminar Fortune, Hysil, Birla HIL and recently acquired German flooring brand, Parador.
The company owns 21 state-of-the art manufacturing facilities in India, and two manufacturing sites in Germany and Austria.
Image Credit: Company website
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