Greenply Q1 net up 26% at Rs 22.56 cr

Interior infrastructure company Greenply Industries today reported a 25.61% increase in its net profit to Rs 22.56 crore for the first quarter ended June 30, 2013, on account of robust sales.

The company had posted a net profit of Rs 17.96 crore in the corresponding period of previous fiscal, Greenply Industries said in a statement.

Net sales of the company also rose to Rs 480.49 crore for the quarter under consideration as against Rs 430.53 crore for the same period a year ago.

Commenting on the results, Greenply Industries Joint Managing Director & CEO Saurabh Mittal said: "We have achieved a growth of 12% and 26% in net sales and net profits, respectively, during the quarter in a challenging environment"

The company has 46 branches across the country and presence in over 300 cities across 21 states. It also exports its laminate brand Greenlam to more than 100 countries.

After touching a new high of Rs 524 intra-day, shares of Greenply Industries Ltd today closed at Rs 498.25, down 1.57% from Monday's close.