HSIL gains on robust Q2 earnings

Net profit for September 2015 quarter rose 27% to Rs 24.3 crore

Shares of HSIL were up nearly 5% at Rs 292 after the company announced that its net profit for the quarter ended September 30, 2015 increased 27% to Rs 24.3 crore compared with Rs 19.1 crore in the corresponding quarter last year on the back of lower finance costs.

Finance costs for the September 2015 quarter nearly halved to Rs 9.2 crore as against Rs 18.9 crore in the same quarer last fiscal.

However, net sales were lower by nearly 1% at Rs 413.7 crore as against Rs 417.1 crore in the quarter ended September 30, 2014.

The stock opened at Rs 285 and touched a high of Rs 294. At 12:20pm, over 157,000 shares were traded on both the stock exchanges.