Greenply Industries’ net consolidated total income stood at Rs 477.54 crore in Q1 FY24growth of 4.93 per cent from Rs 455.09 crore it recorded in the similar quarter last year
Greenply Industries (GIL), a manufacturer of plywood andallied products, has reported a dip of 60.87 per cent in its netconsolidated profit during the quarter ended June 30, 2023. Its profitafter tax stood at Rs 0.81 crore in Q1 FY24 as against Rs 2.07 crore itregistered in the corresponding quarter of the previous fiscal, thecompany said in a BSE filing.
The company’s net consolidated total income stood at Rs 477.54 crore in Q1FY24, a growth of 4.93 percent from Rs 455.09 crore it recorded in the similar quarter last year. In Plywood business, sales volume grew by 1.6% on year-on-year basis and stood at 16.3 MSM, realisation grew by 2.9% on year-on-year basis and stood at Rs 249 per SQM during the quarter ended June 30, 2023. Manoj Tulsian, JMD & CEO of the company said, “In the last quarter, we have successfully started commercial operations of our MDF facility. Our product response has been satisfactory across regions and from all consumer types. Initially, we started with launch of plain products, and we will keep introducing more value-added products, which will improve our financial performance. In the plywood business, the volume growth was soft, however we expect the volumes to rebound in the second half of the financial year. At the same time, our realisations have improved and helped us to offset the raw material price increase.” Courtesy: https://realty.economictimes.indiatimes.com/news/