Century Ply Q1 net profit down 12% to Rs 84 crore

The Earnings before Depreciation Interest and Tax for the quarter stood at Rs 140.07 crore, 7.4 per cent less than the year-ago period.

Leading plywood company Century Plyboards (India) Ltd on Friday reported a 12.8 per cent decline in standalone net profit at Rs 84.1 crore for the June quarter. The company had reported a net profit of Rs 96.47 crore in the year-ago quarter.

The company said its net revenue from operations for the first quarter of the current fiscal was Rs 882.39 crore, indicating a marginal growth over the corresponding period’s earnings of Rs 881.48 crore. The Earnings before Depreciation Interest and Tax for the quarter stood at Rs 140.07 crore, 7.4 per cent less than the year-ago period.

Century Plyboards Chairman Sajjan Bhajanka said sluggishness in other industries, such as housing and building materials sectors, during the period was a key factor behind the subdued results. However, he said there has been substantial improvement in the scenario since July. He emphasised that with the commissioning of all projects in the next financial year, there would be an improvement in the company’s top line as well as the bottom line.