Greenply Industries' net sales was up by 31.43 % in Q4

KOLKATA: Greenply Industries reported a net profit of Rs 16.26 crore for the fourth-quarter (Q4) ended March 31, 2012, compared to a Rs 5.92 crore net in the corresponding period previous year.

Net sales revenue during the January-March period was also up 31.43 % at Rs 458.37 crore (Rs 348.76 crore). EBIDTA (excluding foreign currency gains and other income) too rose by 21.88% at Rs 44.28 crore compared to Rs 36.33 crore in the earlier corresponding quarter.

Earnings per share (diluted) for Q4FY12 stood at Rs 6.74, against Rs 2.45 in Q4FY11. The board of directors have recommended a final dividend of Rs 2 per equity share of Rs 5 each.
A company with interests in the plywood, decorative veneers and laminate sectors, Greenply Industries' net profit was up primarily due to improved performances by the new MDF and laminate units at Pantnagar, Uttarakhand and Nalagarh, Himachal Pradesh.

Commenting on the Q4 results, Greenply Industries' managing director Rajesh Mittal said: "We achieved a growth of 35% and 112% in net revenues and net profits respectively during the year. We expect better results in future on achieving optimum utilisations and better value-mix in the new MDF and laminate plants."