Hindustan Sanitaryware & Industries Ltd (HSIL) today said its net profit rose by 65.11% to Rs 23 crore for the second quarter ended September 30, 2011, over the same period previous fiscal.
The company had posted a net profit of Rs 13.93 crore for the same period last financial year, HSIL said in a statement.
The firm's net sales rose to Rs 296.61 crore for the second quarter ended September 30, 2011, compared to Rs 215.51 crore in the year-ago period.
Commenting on the results HSIL Joint Managing Director Sandip Somany said, "We believe that the company is well poised to benefit from growing consumer spending in India and strong underlying demand for new houses."
For the six months ended September 30, 2011, the company posted a net profit of Rs 51.52 crore compared to Rs 27.46 crore in the same period previous fiscal.
Shares of HSIL today closed at Rs 189.65.
