Greenply Industries posts a 38.6 per cent rise in net profit

KOLKATA: Greenply Industries registered a 38.66 % jump in net profit at Rs 17.97 crore in the first quarter (Q1) ended June 30, 2012, compared to Rs 12.96 crore in the corresponding quarter previous year.

The company's standalone net sales was up by 22.20 % during the said quarter at Rs 430.54 crore compared to Rs 352.32 crore clocked in the corresponding previous quarter.

Company officials attributed the rise in profit and sales to improved performances by the new MDF and laminate units at Pantnagar, Uttarakhand and Nalagarh, Himachal Pradesh respectively.

Earnings per share (diluted) for Q1FY13 stood at Rs 7.44, compared to Rs 5.37 in Q1FY12.