Century Ply slumps as Q4 results fail to meet analysts' expectations

NEW DELHI: Shares of Century Ply, one of the leading plywood producers in India, ended lower by 2.63 per cent on Wednesday after the company’s Q4 numbers failed to meet analysts’ estimates.

The company reported net profit of Rs 40.5 crore which was below IIFL’s estimate of Rs 44 crore. Net profit declined 15.53 per cent on a year-on-year basis below IIFL’s estimate of 8 per cent growth.

Reacting to the earnings, the company’s scrip fell 5.47 per cent to hit a low of Rs 172.80 on the BSE. The stock has gained 1.6 per cent in the year so far.

Net income posted a beat on Street estimates coming in at Rs 454.7 crore in the quarter under review as against IIFL estimates Rs 439 crore.