Greenply top line rises 37%

Greenply Industries (GIL), India's largest plywood and laminate producer, reported a sales turnover of Rs 116 crore in the first quarter of the current financial year, a rise of 37 per cent from Rs 84.60 crore in the corresponding period last year.

The Rs 470-crore company showed a 101 per cent growth in net profit to Rs 9.07 crore from Rs 4.51 crore in the same quarter last year.

Saurabh Mittal, joint MD, attributed this to a combination of higher capacity utilisations, rupee appreciation, reduced raw material costs, excise reduction, improved product mix and visibility and the buoyancy in the market.