C K Birla Group firm HIL Ltd on Tuesday reported nearly three-fold jump in consolidated net profit at Rs 94.33 crore in the second quarter ended September 30.
The company had posted a net profit of Rs 31.94 crore in the same quarter last fiscal, HIL said in a regulatory filing.
Consolidated revenue from continuing operations stood at Rs 703.79 crore during the period under review as against Rs 575.39 crore in the year-ago quarter it added.
HIL Ltd, one of the leading building material solutions company, said it was able to post revenue growth despite the impact of COVID-19 on the construction segment and staggered lockdowns across urban and rural markets.
HIL Ltd CEO and MD DhirupRoy Choudhary said, "We have worked tirelessly to overcome the bottlenecks that have resulted from COVID-19 pandemic. Maintaining profitable growth for the company both in India and in Europe, whilst ensuring health and safety of our team were our major priorities."
The implementation of smart digital systems, business intelligence platforms, heat maps, pincode wise customer tracking and connects, acquisition of thousands of new counters and implementation of robust daily review processes fuelled by undaunted commitment of employees have enabled consistent business performance, Choudhary added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU