Greenply Industries Ltd Q1FY12 Net Sales up by 34.44% at Rs 352.32 cr

Greenply Industries Ltd., leader in plywood and laminate industry in India, today reported net sales of Rs 352.32 crores for the quarter ended June 30th, 2011, registering a growth of 34.44% as against Rs.262.07 crores posted in the same period of the last fiscal.

Net Profit for the quarter stood at Rs 12.96 crores, as compared to Rs 10.39 crores posted in the corresponding quarter of last fiscal, registering a growth 24.69%. Earnings per share (diluted) for Q1FY12 stood at Rs 5.37, as compared to Rs 4.31 in Q1FY11.

EBIDTA (excluding foreign currency gains/losses and other income) for the first quarter was higher by 76.06% at Rs 42.33 crores as compared to Rs 24.04 crores in the same period of the previous year.

EBIDTA margin (excluding foreign currency gains/losses and other income) for the first quarter was higher by 285 basis points at 12.02% as compared to 9.17% in the same period of the previous year.

Reflecting on the quarter, Mr. Saurabh Mittal, Joint Managing Director & CEO, Greenply Industries Limited said, “We have achieved a growth of 34.44% during the first quarter and we expect better results in future on achieving optimum utilisations and superior value-mix in the new MDF and Laminate plants”.