Greenply Oct-Dec net profit up 2pc at Rs 21.3cr

Greenply Industries Ltd on Tuesday reported a net profit of 21.3 crore for the December quarter, an increase of 2.3 per cent over the corresponding period a year ago.

Net sales for the quarter under review was down a marginal one per cent on-year at Rs 344.9 crore, the company said in a statement.

Consolidated EBITDA was also lower by 0.7 per cent year-on-year to Rs 39.9 crore in the October-December period.

Greenply claimed to command a 26-per cent market share in the organised plywood market.

"We continue to make progress in all our Tier 1, 2 and Tier 3 brands and are encouraged by the response to our lower priced brands," it said in the statement.

"The government making efforts and plans for stricter implementation of GST and e-way bill will help the organised industry," Greenply Chairman and Managing Director Rajesh Mittal said.