C K Birla Group firm HIL Q2 net profit up almost 3-fold to Rs 94 cr

C K Birla Group firm HIL Ltd on Tuesday reported nearly three-fold jump in consolidated net profit at Rs 94.33 crore in the second quarter ended September 30.

The company had posted a net profit of Rs 31.94 crore in the same quarter last fiscal, HIL said in a regulatory filing.

Consolidated revenue from continuing operations stood at Rs 703.79 crore during the period under review as against Rs 575.39 crore in the year-ago quarter it added.

HIL Ltd, one of the leading building material solutions company, said it was able to post revenue growth despite the impact of COVID-19 on the construction segment and staggered lockdowns across urban and rural markets.

HIL Ltd CEO and MD DhirupRoy Choudhary said, "We have worked tirelessly to overcome the bottlenecks that have resulted from COVID-19 pandemic. Maintaining profitable growth for the company both in India and in Europe, whilst ensuring health and safety of our team were our major priorities."

The implementation of smart digital systems, business intelligence platforms, heat maps, pincode wise customer tracking and connects, acquisition of thousands of new counters and implementation of robust daily review processes fuelled by undaunted commitment of employees have enabled consistent business performance, Choudhary added.