Century Plyboards posts Rs 8.49 crore loss in Q1

Leading plywood company, Century Plyboards (India) Ltd, has posted a loss of Rs 8.49 crore during the first quarter of the current fiscal, amid the COVID-19 crisis.

The company had reported a profit of Rs 48 crore in the year-ago period, a statement said on Wednesday.

The net revenue from operations in the first quarter was Rs 200.68 crore, a decrease of 65 percent from Rs 573.71 crore of the corresponding period in the last fiscal, it said.

However, various initiatives taken by the company for controlling costs, helped to improve the overall margins.

Container Freight Station division of the plyboard maker have performed "exceptionally well" during the quarter under review, it said.

"The performance was good in the difficult situation. Future looks bright with improvement every month," Sajjan Bhajanka, Chairman, Century Plyboards(India) Ltd said.