Greenply Industries Q4 net doubles to Rs 34.97 cr

Plywood maker Greenply Industries today reported over two-fold jump in standalone net profit to Rs 34.97 crore for the quarter ended March 31, 2013. The company had a standalone net profit of Rs 16.26 crore in the January-March quarter of the previous fiscal 2011-12.

Greenply's net sales rose to Rs 540.68 crore in the fourth quarter ended March 31, 2013, from Rs 458.37 crore in the year-ago period, it said in a filing to BSE.

For the financial year ended March 2013, Greenply posted a profit of Rs 114.16 crore. For 2011-12 fiscal, it was Rs 53.40 crore.

Greenply's net sales in 2012-13 were Rs 1,997.69 crore against Rs 1,642.27 crore in fiscal 2011-12. Meanwhile, in a separate filing, Greenply has informed BSE that its Board of Directors has recommended final dividend of Rs 3 per equity share of Rs 5, which would be subject to approval of shareholders.

Shares of the company closed at Rs 450 per share in afternoon, up 2.90 percent from previous close on BSE.