HSIL Q3 profit down 21 pc to Rs 29 cr

New Delhi, Jan 27 (PTI) Sanitaryware and packaging products maker HSIL Ltd on Thursday reported 20.7 per cent decline in net profit at Rs 28.49 crore for the third quarter ended December 31, 2021.

The company had logged a net profit of Rs 35.92 crore in October-December period a year ago, HSIL said in a BSE filing.

However, revenue from operation was higher at Rs 638.75 crore during the quarter under review as against Rs 541.48 crore in the year-ago period.

Total expenses were Rs 599.47 crore as against Rs 496.51 crore.

"The company registered year-on-year revenue growth despite a high base of a comparative quarter in last year which saw pent-up demand post COVID-19.

"The company continues to maintain strong profitability margins amidst the raw material and fuel price inflation present over the last few quarters and expects the situation to normalize going ahead, supported by partial cost absorption by the market and as such will reduce pressure on margins," said HSIL in a post earning statement.

Shares of HSIL on Thursday settled at Rs 309.70 apiece on BSE, down 1.28 per cent from the previous close.

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