HIL net up 37.5 per cent in 2016-17

HIL Ltd of C.K. Birla group has posted Rs 54.6 crore net profit for fiscal 2016-17, registering 37.5 per cent annual growth from Rs.39.7 crore year ago. In a regulatory filing on the BSE on Thursday, the city-based infrastructure and manufacturing major said net sales or income from operations for the fiscal under review at Rs 1,054 crore was 3.8 per cent lower than Rs 1,096 crore in the previous fiscal (FY 2016). For the fourth quarter of the fiscal, net profit grew 31 per cent over last year to Rs.5.86 crore from Rs.4.49 crore in same quarter year ago.

Net sales for the quarter under review (Q4), however, was muted (0.7 per cent) lower at Rs 257 crore from Rs 259 crore in the like period year ago. Sequentially, net profit declined 27 percent from Rs 8.06 crore in the third quarter while net sales grew 29 per cent from Rs 199 crore. The company's Board of Directors recommended final dividend of Rs 10 per share of Rs 10 face value, same as for interim dividend on January 16, resulting in a total dividend of Rs 20 per share (200 percent) for the fiscal under review.

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