HIL Ltd. delivers strong growth in revenue and profitability in Q2 FY 2019-20

HIL Limited

Hyderabad: Part of the USD $2.5 billion CK Birla Group, HIL Limited which is one of Asia’s leading building material solutions company, today announced the financial results for the quarter ending September 30, 2019. The company reports growth in revenues by 42% to Rs. 586 crore in Q2 FY20’ as against Rs. 413 crore over the same quarter of FY19’.

Business performance highlights:

Consolidated EBITDA stood at Rs. 60 crore compared to Rs. 71 crore for the same quarter last year, a decline of 15% year-on-year on account of tough market conditions and huge pressure on raw material prices during the quarter
Consolidated Profit after tax showed 164% increase at Rs. 32 crore as the company choose to excersise the option permitted under Section 115BAA of the income tax act, 1961 as introduced by Taxation Laws (Ammendment), Ordiance 2019

Mr. Dhirup Roy Choudhary, Managing Director, HIL Limited said, “Despite an environment of general slowdown in economy, muted demand for construction and building materials, and higher raw material costs, HIL Ltd has delivered growth in revenue and PAT in Q2 FY 2019-20. Our international acquisition is improving at the right pace and we are very confident of exceeding our own expectations.  This is the result of the several steps undertaken to improve the efficiencies of operating processes focus on cost and productivities across the enterprise to minimize the impact of external factors. I strongly believe that these practices will continue to drive HIL’s growth and reflect positive numbers in the upcoming quarters. Going forward, we will focus on retaining our position of a leading, global, innovative, and eco-friendly building and infrastructure solutions company and creating sustainable value for our stakeholders.”

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Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.