Century Plyboards on Friday reported a 38 per cent increase in its net profit to Rs 52.15 crore in the second quarter of the current fiscal as compared to Rs 37.81 crore in the year-ago period.
Its net revenue from operations for the quarter under review stood at Rs 589.35 crore, up by 4.4 per cent from Rs 564.44 crore in the corresponding period of the last fiscal.
Laminates and MDF (medium density fibre) division have performed "exceptionally well" during the September quarter, the company said in a statement, adding that favourable market conditions, lower commodity prices and better sales volume have led to an improvement in margin.
Commenting on the companys performance, Sajjan Bhajanka, chairman, Century Plyboards(I) Ltd said, "This has been an excellent set of results. It has been a difficult and challenging business environment for all manufacturers across the country but I think our foray into particle board and MDF has shown phenomenal results.
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