HIL Q3 PAT drops 63% YoY; board Oks interim dividend of Rs 20 per share for FY23

The Hyderabad-based company has reported a consolidated net profit of Rs 12.53 crore in Q3 FY23, which is lower by 63% as compared with a PAT of Rs 34.15 crore recorded in the same period last year.

Revenue from operations fell by 7% YoY to Rs 767.17 crore during the quarter.

Total expenses declined by 4% YoY to Rs 749.55 crore in the third quarter, due to lower raw material costs (down 8% YoY), lower other expenses (down 1% YoY) and lower employee costs (down 8% YoY).

Profit before tax in Q3 FY23 stood at Rs 17.32 crore, down by 68% from Rs 54.72 crore reported in Q3 FY22. Total tax outgor for the period under review was Rs 4.79 crore (down 77% YoY).

The company's board has approved an interim dividend of Rs 20 per share for the financial year 2022-23. At yesterday's closing price, this translates to a dividend yield of 0.83%.

The company has fixed Monday, 6 February 2023 as the record date and the said interim dividend will be paid to those members whose name appears in Register of Members (both physical & electronic mode) as on record date. Payment of the said interim dividend will be processed within 30 days from the date of declaration.

HIL is a part of the C.K. Birla Group and is headquartered in Hyderabad. It manufactures asbestos FC sheets, coloured steel sheets, non-asbestos corrugated roofing sheets, new generation building products such as autoclaved aerated concrete (AAC) blocks (light bricks) that are used for walls in building constructions, and aerocon panels and boards that are used as partition in residential and commercial buildings. The asbestos FC sheets are sold under the brandname 'Charminar', non asbestos cement roofing sheets under 'Charminar Fortune' and building products under 'Birla Aerocon'.

The scrip slipped 3.94% to end at Rs 2408.65 on the BSE on Friday.

Powered by Capital Market - Live News