New Delhi: HSIL has reported a 38.97 percent decline in standalone net profit at Rs 29.36 crore for the fourth quarter ended March 31, 2014. The company's net profit stood at Rs 48.11 crore in the January-March quarter a year ago, HSIL said in a BSE filing.
However, net sales during the quarter under review increased to Rs 617.30 crore, against Rs 494.69 crore in the year-ago period. For the financial year 2013-14, company's consolidated net profit declined to Rs 33.98 crore, compared with Rs 82.05 crore in the previous fiscal. Consolidated net sales for the year increased to Rs 1,827.89 crore from Rs 1,736.68 crore in 2012-13.
"The year 2013-14 has been challenging but we continued to focus on improving margins through better product mix, costs rationalisation & improvement in plant efficiencies. Important announcements and launches in Tier II and III cities provided us with great opportunities and strengthened our distribution channel," HSIL Joint Managing Director Sandip Somany said. Shares of HSIL today closed at Rs 207 apiece on the BSE, down 2.45 per cent from previous close.