The Rs 1,400-crore Hindusthan National Glass & Industries Ltd (HNG) posted a 45 per cent decline in net profit to Rs 17 crore for the quarter ended December 31, compared to the same period last year. The lower profits came despite a 27 per cent rise in net sales.
On a sequential basis, operating margins were under further pressure. However, profits rose marginally from Rs 16.7 crore during the quarter ended September 30, 2011.