HSIL Q3 net profit up 43%

Somany Group company HSIL today reported a 43.04 per cent jump in net profit at Rs 9.97 crore for the third quarter of current fiscal on the back of operationalisation of glass making plant in Andhra Pradesh.

The company had a net profit of Rs 6.97 crore during the same quarter of last fiscal, HSIL said in a statement.

It also reported an increase of 37.96 per cent in total income for the quarter ended December 31, 2009, at Rs 206.92 crore, against Rs 149.99 crore during the year-ago period.

"Our new Andhra Pradesh glass plant which was commissioned in June last year has made a big contribution in our balance sheet. With the operationalisation of the plant, our second glass facility, the company's capacity has gone up to 3.7 lakh tonne of glass annually," HSIL Joint Managing Director Sandeep Somany said.

 

The company, which specialises in container glass and sanitaryware, also operates two ceramic plants with a combined annual installed capacity of 28,000 tonne.

Somany said HSIL will increase the capacity utilisation of the new plant. "Currently, we are utilising around 80 per cent of the total installed capacity at the plant. Within the next two months we will increase it to 100 per cent," he said.