HIL Limited, one of Asia's leading building material solutions company, has announced the financial results for the quarter ending June 30, 2020. The company reports decline in revenues by 8% to Rs.693 crore in Q1 FY21 as against Rs. 751 crore over the same quarter of FY20.

Business performance highlights - Q1 FY21 vs Q1 FY20:
Consolidated EBITDA stood at Rs.107 crore compared to Rs.96 crore for the corresponding quarter last year, an increase of 12% year-on-year on account of better price realisation from roofing sector and efficient cost management in tough market conditions. Consolidated Profit after tax showed 34% increase at Rs.50 crore.
Dhirup Roy Choudhary, CEO & MD, HIL Limited said, "Our operations in India and in Europe posted a very good result in these tough times on account of quick revival of roofing segment post lock-down, E business and DIY focus by our subsidiary Parador Germany combined with an aggressive focus on cost reduction undertaken during the quarter. The company is facing severe headwinds on account of an inevitable slowdown in real estate sector due to Covid-19 pandemic and a decline in overall consumer demand including the demand for construction and building materials. However, our company is committed to reimagine the organisation, focusing on greener pastures using digital mapping, while ensuring compliance and safety across all units. In the coming quarters, we expect recovery in demand and growth in volumes across the world as business comes back to the new norm."
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