Greenply Industries' net profit is Rs 10.10 crore for the second-quarter

KOLKATA: Greenply Industries reported a net profit of Rs 10.10 crore for the second-quarter (Q2) ended September 30, 2011, compared to a Rs 1.58 crore net in the earlier corresponding period. Net sales revenue during the July-September period was also up 43.21 % at Rs 413.48 crore (Rs 288.72 crore).

A company with interests in the plywood, decorative veneers and laminate sectors, Greenply Industries' EBIDTA (excluding foreign currency gains/losses and other income) for the said quarter was higher by 67.13 % at Rs 47.85 crore compared to Rs 28.63 crore in the earlier corresponding period.

EBIDTA margin (excluding foreign currency gains/losses and other income) for the July-September quarter too was higher by 166 basis points at 11.57% compared to 9.91% in the same period of the previous year.

Commenting on the Q2 results, Greenply Industries' joint managing director & 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 utilisation and superior value-mix in the new MDF and laminate plants."