Greenply Industries Q1 net up 50%

Greenply Industries Q1 net up 50%

Greenply Industries Ltd has posted a 50 per cent increase in its net profit for the quarter that ended on June 30 at Rs 4.51 crore, as against Rs 3 crore in the corresponding quarter of the previous fiscal.

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The company's turnover for the quarter under review increased 51 per cent at Rs 102.36 crore as compared to Rs 67.78 crore in the same period in the previous fiscal, a company release said.

"A combination of cost reduction measures, higher capacity utilisations, change in product mix, improved product visibility and buoyancy in the market had led to the improved margins," Greenply Industries Ltd Joint Managing Director Saurabh Mittal said.