Greenply Industries has rallied 12% to Rs 329, extending its previous day’s 9% surge after reporting over three-fold jump in net profit at Rs 31.85 crore in September 2012 quarter due to higher sales and flat interest cost. The forest products maker had a profit of Rs 10.10 crore in a year ago quarter. Net sales grew 25% at Rs 517 crore on year-on-year basis.
Operating profit margins has improved by almost 500 bps to 13.96% from 9.33% during the recently concluded quarter.
Meanwhile, the company said that in respect of the setting-up of new MDF manufacturing unit in Andhra Pradesh, selection of the site location is under process.
The stock opened at Rs 300 and hit a 52-week high of Rs 330 on the BSE. As many as a combined 113,312 shares have already changed hands on the counter till early noon deals, against an average less than 15,000 shares that were traded daily in past two weeks.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app