Greenply Industries Q3 Net rises 35.24% to Rs 35.34 crore

Greenply Industries today reported a 35.24 per cent increase in standalone net profit at Rs 35.34 crore for the third quarter ended December 31, 2015.
The company had posted a net profit of Rs 26.13 crore in the same quarter of 2014-15, the firm said in a BSE filing.
Net sales in the quarter under review went up by 7.99 per cent to Rs 421.74 crore as against net sales of Rs 390.52 crore during the corresponding quarter of the previous fiscal.
Overall expenses in the quarter stood at Rs 369.61 crore, an increase of 4.89 per cent from Rs 352.36 crore in the same period a year ago.

Commenting on the result, Greenply Industries Ltd Joint MD and CEO Shobhan Mittal said: "We have been delivering a stable performance in a sluggish economy. This has been driven by our two pronged strategy of gaining market share from the unorganised segment and enhancing operational efficiencies through an improved product mix.
"This is a reflection of our proven quality, strong brand portfolio and well developed distribution infrastructure."
Shares of Greenply Industries closed 6.19 per cent up at Rs 177.50 apiece on BSE.