Hindustan Tin Works announces financial results

Hindustan Tin Works, one of India’s leading can manufacturers, has reported its latest quarterly profit and revenue numbers.

Its Q2 results (for the period ending 30 September, 2013) state that it has achieved a 39.7% jump in net profit after tax.

 

India’s one of the leading can manufacturer producing a wide range of cans, ends, printed sheets  while providing quality packaging solutions, Hindustan Tin Works Ltd, a recognized star exporter reported its quarterly profit & revenue numbers with a 39.7% jump in the net profit after tax for the quarter ended 30th September 2013.

 

While the company saw its net sales crossed 79.49 cr. for 2nd Quarter, as compared to 60.09 cr. of the corresponding period last year thereby showing an increase of 32.3%. This is the all time high net sale in 2nd quarter for the company.  

 

Similarly export sales crossed 20.04 cr. for 2nd Quarter, as compared to 10.45 cr. of the corresponding period last year thereby showing an increase of 91.7%. This is the all time high in exports sales in 2nd quarter for the company.  

 

The Profit after Tax stood at  1.69 cr. as compared to  1.21 cr. in the corresponding quarter of the previous year thereby showing 39.7% increase. Earnings per share stood at  1.62 as compared to  1.16 in the corresponding quarter of the previous year thereby showing an increase of 39.7 %.

 

The numbers for ending six months are also encouraging. Net Sales stood at  162.73 cr. as compared to  150.27 cr. thereby showing an increase of 8.3 %. Export Sales stood at  35.96 cr. as compared to  22.05 cr. thereby showing an increase of 63.1 %.

 

PAT stood at  4.72 cr. as compared to  4.51 cr. thereby showing an increase of 4.5 %. Earnings per share stood at  4.53 as against  4.34 of corresponding six months of the last year showing an increase of 4.5%.

 

Mr Sanjay Bhatia, Managing Director, Hindustan Tin Works Ltd said “ We are happy that that the company has performed exceedingly well during this quarter, both in domestic and exports segments. We are quite hopeful that our motivated team will continue to achieve similar trends in the rest of the year. We shall continue our efforts to tap new markets, products and capitalize on profitable growth opportunities both in India and overseas. We are concerned on the substantial increase in tinplate prices by the local producer recently  which will have to be passed on to our customers”

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