HSIL Q2 profit doubles to Rs 19 cr

Sanitary ware and bathroom equipment maker HSIL today reported over two-fold increase in standalone net profit at Rs 19.07 crore for the second quarter ended September 30, 2014-15.
Its net profit was Rs 9.13 crore in the July-September quarter in 2013-14, HSIL said in a BSE filing.
The company's net sales during Q2, 2014-15 were Rs 417.07 crore, up 9.34 per cent, as against Rs 381.42 crore in the year-ago period.
"We have a fundamentally strong business that can adapt and create value in a dynamic economy. The commencement of our greenfield faucet plant in Kehrani with a capacity of 2.5 million pcs/annum as well our tactical growth strategy, strengthening our distribution network and retail presence in Tier II and III towns," HSIL Joint Managing Director Sandip Somany said in a statement.

For first half of the current fiscal, the company posted net profit of Rs 34.06 crore, as against net profit of Rs 15.05 crore in April-September period of 2013-14.
Net sales during the six months ended September 30 rose to Rs 824.26 crore as compared to Rs 738.24 crore in same period in the previous fiscal.
The HSIL scrip closed at Rs 386.30, down 1.5 per cent, on the BSE.