Standalone Quarterly Results

For the quarter ended March 2011, HOEC reported 4% rise in sales to Rs 83.44 crore as against Rs 80.02 crore in the quarter ended March 2010. The operating profit margins of the company fell 530 bps to 77% leading 2% fall in operating profits to Rs 64.24 crore. Other income of the company fell 59% to Rs 4.15 crore leading the PBIDT fell 10% to Rs 68.40 crore. Interest costs fell 14% to Rs 2.84 crore while DDA cost decreased 8% to Rs 29.39 crore. The resultant PBT increased 11% to Rs 35.73 crore. Effective rate of tax fell significantly from 36.5% to 31.6% leading 19% increase in PAT to Rs 24.43 crore.

Consolidated Year ended results

For year ended March 2011 HOEC reported 122% rise in its consolidated net sales to Rs 345.76 crore compared to corresponding previous year period. The operating profit margins rose by 80 bps to 71.2% resulting 125% rise in operating profit to Rs 246.20 crore. Other income was 36% lower at Rs 9.22 crore. Interest costs increased 54% to Rs 12.41 crore and DDA cost rose 159% to Rs 122.33 crore. As a result PBT rose 76% to Rs 120.68 crore. Considering fall in effective rate of taxes PAT rose 85% to Rs 81.54 crore.

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