HLE Glascoat locked in 20% upper circuit on healthy Q3 performance

The company said that during the quarter it witnessed strong performance on the back of robust demand from the end user industry and increased efficiencies in the business

Shares of HLE Glascoat, on Monday, were locked in 20 per cent upper circuit at Rs 1,670 on the BSE after the company reported 58 per cent year on year (YoY) growth in net profit at Rs 17.16 crore for the December quarter (Q3FY21), on the back of healthy operational performance.

The company’s total revenue grew 23 per cent YoY at Rs 132.50 crore. The earnings before interest, taxes, depreciation, and amortization (EBITDA) jumped 44 per cent YoY at Rs 29.70 crore, while margins improved 903 basis points (bps) to 29.7 per cent from 20.67 per cent in a