Hindusthan National Glass reports lower net profit of Rs 26.09 crore in Q1

KOLKATA: Hindusthan National Glass&Industries (HNG) reported a lower net profit of Rs 26.09 crore in the first-quarter (Q1) ended June 30, 2011, compared to Rs 31.34 crore net in the corresponding quarter previous year.

Company officials attributed the quarterly performance to increased input costs of power and fuel, and rising interest rates.

Net sales during the said quarter was up by 18% at Rs 431 crore against Rs 364 crore in the earlier corresponding quarter.

Elaborating on the results, HNG vice chairman & managing director Mukul Somany said: "Revenues for the quarter improved due to healthy demand and our ability to pass on price hikes to end users.. We were able to improve capacity utilisation of the newly acquired German firm Agenda Glas AG's unit. This will enhance cost efficiencies and enable us to turnaround this facility in a short span. We are inching forward to double the company's existing capacity of 3250 tonnes per day through greenfield and brownfield expansions over the next four years. This will further consolidate our position as the leading player in the organised container glass segment."

Read the full story below.

600450 Hindusthan National Glass reports lower net profit of Rs 26.09 crore in Q1 glassonweb.com
Date: 4 August 2011
Source: www.economictimes.indiatimes.com

See more news about:

Others also read

Proprietary laminate windows collect, store energy; convert it to electricityRIVIERA BEACH, FL – An innovative new patented technology transforms office building windows into "solar farms" and allows these structures to reuse collected energy and become self-sufficient in the event of a power outage.
DALLAS, Texas, December 22, 2011 /PRNewswire/ --ReportsnReports adds new market research report 'Solar Photovoltaic (PV) Power - Global Market Size, Installation Prices, Module Market Shares, Market Segmentation, Regulations and Key Country Analysis to 2020' to its store.
The University of Minnesota's historic Folwell Hall completed three years of extensive renovation, just time for the 2011 academic year.
Glassman as one of the largest glass processing machine manufactures in the world presented ZAK Glass Technology Exhibition during 8-11 December 2011, in Mumbai, India.
The development of ESG’s privacy glass product, ESG Polyvision™, has quite literally reached new heights.
Michael Gai has been named Vice President of Operations at Glass Doctor, following the recent promotion of Mark Liston to President.

Add new comment