NEW DELHI: Greenply Industries has reported a growth of 26.33 per cent in its net consolidated profit during the quarter ended September 30, 2024. Its profit after tax stood at Rs 17.56 crore as against Rs 13.90 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 642.45 crore in Q2 FY25, a growth of 12.52 per cent from Rs 570.97 crore it recorded in the similar quarter last year.
Manoj Tulsian, JMD & CEO of the company said, “We have been consistently seeing growth in our plywood business for last few years, however, pressure on margins continues to persist due to high raw material costs and product mix change. We are continuously working on means & methods to improve our margins. In the MDF business, our revenue de-grew on a QoQ basis due to the plant shutdown and power cuts in Gujarat. We are confident of delivering much better performance in the second half and hence achieving our guidance of revenue growth of 50% on a full year basis. Our Furniture & Fittings JV is likely to see full phase 1 product range manufacturing from November 2024 as we have successfully installed all the equipment and completed trial production.”
Its revenue from plywood & allied products segment was at Rs 514 crore, growing by 7.5% year-on-year basis, sales volume was 20.2 MSM and realisation was at Rs 251 per SQM, improving by 2.4% year-on-year basis in Q2 FY25.
Revenue from MDF segment was at Rs 126.4 crore, sales volume was 40,553 CBM and realisation was at Rs 31,169 per CBM in Q2 FY25.
Source Homevior.in
