Moneycontrol
Last Updated : Mar 04, 2017 03:34 PM IST | Source: CNBC-TV18

Cash ban a positive; see margins at 16-18% in Q4: Century Ply

The company reported an increase in total income at Rs 456 crore in Q3FY17 vis-à-vis Rs 408 crore for the same quarter previous fiscal.

Century Plyboards, reported an increase in total income at Rs 456 crore in Q3FY17 vis-à-vis Rs 408 crore for the same quarter previous fiscal.

In an interview to CNBC-TV18 Keshav Bhajanka, Director said the company saw an overall growth of 10-12 percent for the December quarter despite demonetisation effects. However, increase in raw material costs offset the revenues for the company, he added.

According to Bhajanka, demonetisation impacted plywood sector differently as organised players, which forms about 30 percent of the whole sector, saw positive impact whereas unorganised players found significant difficulties for their existence. He said that this has resulted in a significant number of consumers shifting to organised players.

He said company saw a dip in profitability as a result of increase in raw material costs and discounts in the quarter. However, he added both the phenomenon were temporary and things will roll back to normalcy in the quarter ahead.

He expects margins to remain in the same range of 16-18 percent going ahead.

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First Published on Jan 31, 2017 07:28 pm
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