HSIL jumps 10% as Q4 net profit rises multifold

NEW DELHI: Shares of soared as much as 10 per cent on Tuesday after the company reported several-fold jump in its net profit in the March quarter.

The sanitaryware and packaging products maker reported a net profit of Rs 33.02 crore for the quarter ended March 2021. The company had posted a net profit of Rs 3.38 crore in the January-March period a year ago.

The maker of Hindware sanitaryware brand has been a multibagger in the last one year. The company has delivered 325 per cent return from its 52-week low of Rs 47.05, hit in May 2020 to its 52-week high of Rs 200, touched in February this year.

The share of Delhi bases smallcap firm jumped 10 per cent to Rs 190 during the Tuesday's early trade. On Monday, it closed at Rs 172.95. BSE Sensex was down 400.41 points or 0.81 per cent at 49,102.

For the fiscal year 2020-21, HSIL's net profit was up 81.87 per cent to Rs 88.06 crore. It was Rs 48.42 crore in the previous year.

The company's revenue from operations during January-March 2021 rose 37.35 per cent to Rs 633.21 crore, compared with Rs 461.03 crore in the year-ago period. Its revenue from operations in the financial year 2020-21 was marginally down to Rs 1,852.59 crore. It was Rs 1,859.07 crore in 2019-20.