The Hindu Business Line
HIL posts lower Q1 profit of ₹40 cr
HIL Ltd has posted a lower profit of ₹40.63 crore for the first quarter ended June 30 as against ₹52.04 crore for the corresponding quarter of the previous year on a consolidated basis.
The CK Birla Group company in the building material solutions space, logged a 53 per cent higher total income of ₹768.10 crore, from ₹501.24 crore in the same period last year.
The commissioning of augmented capacity in pipe and fittings is shaping up well. The company completed financial integration of Parador and is focusing on accessing the operating strengths of the company on the global stage.
Dhirup Roy Choudhary, Managing Director, HIL Ltd, in a statement said, “Though the rural economy was down due to general elections, the on-ground situation is normalising steadily and we have seen some uptrends in terms of volume growth. Despite tough market conditions in the roofing business, we enjoy customer loyalty and continue to be the market leader for yet another quarter.”