Greenply Industries Q4 profit at Rs 45.56 crore

Plywood maker Greenply Industries today reported a standalone net profit of Rs 45.56 crore for the fourth quarter of 2014-15 financial year.
The company had a standalone net profit of Rs 36.83 crore in the same period of previous fiscal, Greenply Industries said in a filing to the BSE.
The company said that its results were not comparable as in November 2014, Greenply had demerged its decorative business (comprising of laminates and allied products) with all its assets and liabilities into Greenlam Industries.
Greenply Industries net sales on standalone basis were Rs 428.41 crore during the quarter against Rs 570.10 crore in the January-March period of 2013-14.

During 2014-15 fiscal, Greenply reported a consolidated net profit of Rs 124.22 crore as against a net profit of Rs 117.57 crore in the year-ago period.
Net sales during fiscal 2014-15 were at Rs 1,560.58 crore compared with Rs 2,215.11 crore a year ago.

Meanwhile, in a separate filing, Greenply said its board has recommended a dividend of Rs 3 per equity share of Rs 5 each.
It also informed that its board "approved to start new business venture of trading in wallpapers of different categories to be sourced from various overseas suppliers and marketed in India".
Shares of Greenply were trading at Rs 1,095.75 per scrip on BSE post afternoon trade, up 0.57 per cent from previous close.