"The board of directors of the company at its meeting held on March 14, 2016 has declared interim dividend of Rs 17.50 per share (175 per cent) on the per value of Rs 10 per share for the financial year 2015-16," the company said in a statement.
The interim dividend will be paid on or after March 29, 2016, it added.
"The interim dividend will result in a payout of Rs 43.29 crore including the dividend distribution tax," HVL said.
GIL has launched HITS cable TV delivery services under brand name NXT Digital.
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