Century Plyboards profit drops 6% to Rs 38 crore

KOLKATA: Century Plyboards, despite higher sales, announced a 5.8 % drop in net profit to Rs 37.81 crore in the second-quarter (Q2) ended September 30, 2018, against the corresponding period profit of Rs 40.14 crore.

Net revenue from operations for the quarter was Rs 564.44 crore, an increase of 18.93% over Rs 474.56 crore in the corresponding period of 2017-18. Stable market conditions led to healthy growth in revenue, a company release stated.

Plywood and particle board have also performed exceptionally well during the quarter under review, the release added.


Commenting on the company’s performance, Century Plyboards (I) managing director Sanjay Agarwal said: "We witnessed robust development in plywood and particle board segment with 19% top line growth. This coupled with higher sales in MDF segment has also contributed to the growth. We expect this to play a larger role in the company's future development. Laminates too have done well."