HIL surges 9% as Q4 profit rises more than double

HIL reported a net profit of Rs 200 million in March quarter against Rs 70 million in year ago quarter.

Shares of HIL have surged 9% to Rs 2,267 per share, also their record high on the BSE, after the company reported more than double net profit at Rs 200 million for the quarter ended March 2018 (Q4FY18). The CK Birla Group Company engaged in cement & cement products business had profit of Rs 70 million in year ago quarter.

Total revenue during the quarter under review increased 22% at Rs 3,350 million from Rs 2,740 million in the corresponding quarter of previous fiscal.

HIL registered highest ever EBITDA (earnings before interest, tax, depreciation and amortization) during quarter at 12%, up 530 bps over the previous year quarter.

The company said expansion in product and customer matrix opening up opportunities for further leverage in margins. The sustained improvement underlined by disciplined cost optimisation measures, it added.

At 10:17 am;  HIL was trading 8.6% higher at Rs 2,260 as compared to 0.81% rise in the S&P BSE Sensex. A combined 118,386 shares changed hands on the counter on the BSE and NSE so far.

In past one month, the stock outperformed the market by gaining 37% against 5.5% rise in the benchmark index.