HSIL: Q3 net profit up 43%

India“s leading sanitaryware and container glass manufacturer HSIL Limited has reported a strong performance for third quarter ended December 2010, with a 43.04% increase in net profit at Rs 9.97 cro…

India“s leading sanitaryware and container glass manufacturer HSIL Limited has reported a strong performance for third quarter ended December 2010, with a 43.04% increase in net profit at Rs 9.97 crore for the third quarter of current fiscal on the back of operationalization of glass making plant in Andhra Pradesh. The company had a net profit of Rs 6.97 crore during the same quarter of last fiscal, HSIL said in a statement. HSIL also reported a 37.96% increase in total income for the quarter ended 31 December 2009, at Rs 206.92 crore, compared to Rs 149.99 crore during the same period in 2008. The company, which specializes in container glass and sanitaryware, also operates two ceramic plants with a combined annual installed capacity of 28,000 tonnes. Somany said HSIL intends to increase capacity utilization of the new plant. “Currently, we are utilizing around 80% of the total installed capacity at the plant. Within the next two months we will increase it to 100%,” he said.