Greenply Industries net profit up 38.66%

Interior infrastructure major Greenply Industries Ltd has posted a 38.66 per cent growth in net profit for the first quarter of the financial year ended on 30 June 2012 to Rs 17.97 crore, as compared to Rs 12.96 crore posted in the corresponding quarter of last fiscal.Meanwhile, the firm’s net sales for the period under review also zoomed 22.2 per cent to Rs 430.54 crore for Q1 of the current financial year, as against Rs 352.32 crore during the same period in 2011-12. Accordibng to a company statement, this was primarily due to improved performances by the new MDF and Laminate units at Pantnagar, Uttarakhand and Nalagarh, Himachal Pradesh respectively.