Greenply Q2 net profit surges to Rs10.10 crore
Greenply Industries today reported over six fold increase in net profit to Rs10.10 crore for the second quarter ended September 30, 2011, over the same period previous fiscal.
According to reports, the company had posted a net profit of Rs1.58 crore for the same period last financial year. Its net sales for the second quarter ended September 30, 2011 stood at Rs413.48 crore, as against Rs288.72 crore for the same period last fiscal.
Commenting on the results Greenply Industries Ltd Joint Managing Director and CEO Saurabh Mittal said: "We have achieved a growth of 43% in the company’s business during the quarter, and we expect better results in future on achieving optimum utilisations and superior value-mix in the new MDF and laminate plants."
Meanwhile, for the six months ended September 30, 2011, the company’s net profit stood at Rs23.05 crore as against Rs11.98 crore in the same period previous fiscal.