Hindusthan National Glass & Industries posts net profit of Rs 7.7 crore in Q1 FY13

KOLKATA: Hindusthan National Glass & Industries clocked a net profit of Rs 7.7 crore in the first-quarter (Q1) ended June 30, 2012. Total income in the said quarter recorded a 11 % YoY growth at Rs 480.8 crore (Rs 433.3 crore), while EBITDA dipped 12 % YoY to Rs 68.2 crore (Rs 77.5 crore) in the FY 2010-11 because of input cost pressures.

Commenting on the first quarter results, Hindusthan National Glass vice chairman & managing director Mukul Somany said, “Despite drop in the growth rates of our user industries from 14 to 20% earlier, to present growth rates of about 10%, we continue to demonstrate robust growth propelled by latest technological innovations in our production process at regular intervals.”

“New product innovations coupled with technological innovations and capacity additions are also contributing to the incremental growth,” he added.

Meanwhile, the company’s seventh greenfield project is coming up in Naidupeta, Andhra Pradesh. Commencement of this proposed project will help the company expand its topline and bottomline. It may take another three-to-four quarters for the increased capacities to bring in their optimum contribution, a company release stated.