HSIL share price jumps 7% after net profit surges to Rs 33 crore
The company's board has recommended a dividend at 200 percent ie Rs 4 per equity share of Rs 2 each for the year ended March 31, 2021.
May 11, 2021 / 10:47 AM IST
HSIL | The company reported profit at Rs 33.02 crore in Q4FY21 against Rs 3.38 crore in Q4FY20, revenue jumped to Rs 633.21 crore from Rs 461.03 crore YoY.
HSIL share price jumped over 7 percent intraday on May 11, a day after the sanitaryware and packaging products maker reported several-fold jumps in its net profit to Rs 33.02 crore for the fourth quarter ended March 2021. The company had posted a net profit of Rs 3.38 crore in the year-ago period, HSIL Ltd said in a BSE filing.
Its revenue from operations during January-March 2021 rose 37.35 percent to Rs 633.21 crore, compared with Rs 461.03 crore in the year-ago period. HSIL's total expenses stood at Rs 581.53 crore, up 26.27 percent as against Rs 460.55 crore in the fourth quarter of 2019-20.
Its revenue from operations for the financial year 2020-21 was marginally lower at Rs 1,852.59 crore from Rs 1,859.07 crore in the previous year.
The company's board recommended payment of dividend at 200 percent ie Rs 4 per equity share of Rs 2 each for the year ended March 31, 2021, subject to the approval of the shareholders at the 61st annual general meeting scheduled to be held on September 24, 2021 and will be credited/dispatched on or before September 29, 2021 to the shareholders, the company said.
The stock was trading at Rs 184.95, up Rs 12, or 6.94 percent, at 1031 hours. It touched an intraday high of Rs 190 and an intraday low of Rs 173.85. The scrip also witnessed a spurt in volume by more than 5.29 times and was trading with volumes of 190,351 shares, compared to its five-day average of 56,193 shares, an increase of 238.75 percent.