Century Plyboards Q1 net profit up 7.3%

India Infoline News Service | Mumbai | August 02, 2016 17:08 IST

Profit After Tax for the quarter ending 30th June, 2016-17, was Rs. 43.05 crores; showing an increase of 7.3% over corresponding period of last financial year (Rs. 40.13 crores).

Century-Plyboards
India’s leading plywood company, Century Plyboards(I) Ltd., today announced its results for the first quarter of FY 16-17.
Highlights:
Net Revenue from operations for the First Quarter, ending 30th June, 2016-17 fiscal, was Rs 405.75 crore; an increase of 9.8% over corresponding period of last financial year (Rs. 369.54 crore)
Profit After Tax for the quarter ending 30th June, 2016-17, was Rs. 43.05crores; showing an increase of 7.3% over corresponding period of last financial year (Rs.  40.13 crores).
Plywood and allied products have performed exceptionally well during the quarter under review
Favourable market conditions, lower commodity prices and better sales volume have led to significant margin improvement.
Business Outlook:
Commenting on the company’s performance, Mr. Sajjan Bhajanka, Chairman, Century Plyboards(I) Ltd said “ It was on expected lines we have maintained our present EBDITA of 17% and PAT around 10% that is improvement in demand, and as the festive season is ahead, the present quarter should be better than last quarter. We have already commissioned our particle board plant at Chennai, so now onwards it will also contribute to the top line & bottom-line. Our MDF plant is on track, we are likely to commission the same in the month of February, 5 months ahead of projected schedule.”

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