Greenply Q1 Results: Net profit at ₹0.8 crores, revenue up by 5% (YoY)

  • Greenply Q1 Results: The revenue of the company rose by 5% year-on-year and reached 476.1 crores during the period under review

Devesh Kumar
Published25 Jul 2023, 09:40 PM IST
Greenply Q1 Results
Greenply Q1 Results(Greenply )

Greenply Industries Limited released their Q1 net consolidated results on Tuesday and informed that their profit after tax (PAT) stood at 0.8 crore during the quarter ending June 2023. The revenue of the company rose by 5% year-on-year and reached 476.1 crores during the period under review.

The company was profitable only in the Plywood business as it reported a profit after tax (PAT) of 20.9 crore. Greenply reported a 4.4% (YoY) jump in the revenue in the plywood segment which reached 412.3 crores during the period under review. In the Plywood business, the EBITDA was 35.9 crores which declined by 1.2% (YoY). The EBITDA margin stood at 8.7% during the quarter ending June 2023.

Net loss in MDF business and Gabon operations

Greenply reported a net loss of 14.8 crore in the MDF Business of the company. The revenue during Q1FY24 stood at 18.1 crores and the core EBITDA loss was at 7.3 crores during the period under review. In the Gabon operations, the company reported a net loss of 4.7 crores with revenue declining 22.1% (YoY) to 45.8 crores during the Q1FY24.

Also read: L&T Q1 Results: Net profit rises 46% to 2,493 crore, revenue up by 34%

“In the last quarter, we have successfully started commercial operations of our MDF facility. Our product response has been satisfactory across regions and from all consumer types. Initially, we started with launch of plain products, and we will keep introducing more value-added products, which will improve our financial performance," JMD & CEO Manoj Tulsian said. 

"In the plywood business, the volume growth was soft, however we expect the volumes to rebound in the second half of the financial year. At the same time, our realisations have improved and helped us to offset the raw material price increase,” the top officer added. 

 

Catch all the Budget News , Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

MoreLess
First Published:25 Jul 2023, 09:40 PM IST
HomeCompaniesCompany ResultsGreenply Q1 Results: Net profit at ₹0.8 crores, revenue up by 5% (YoY)

Get Instant Loan up to ₹10 Lakh!

  • Employment Type

    Most Active Stocks

    Bharat Electronics

    312.60
    03:59 PM | 22 JUL 2024
    6.3 (2.06%)

    Zee Entertainment Enterprises

    134.60
    03:59 PM | 22 JUL 2024
    -2.95 (-2.14%)

    Tata Steel

    160.35
    03:57 PM | 22 JUL 2024
    2.6 (1.65%)

    Wipro

    505.75
    03:59 PM | 22 JUL 2024
    -51.5 (-9.24%)
    More Active Stocks

    Market Snapshot

    • Top Gainers
    • Top Losers
    • 52 Week High

    Rashtriya Chemicals & Fertil

    235.05
    03:53 PM | 22 JUL 2024
    21.1 (9.86%)

    NBCC India

    184.85
    03:52 PM | 22 JUL 2024
    13.05 (7.6%)

    Indian Hotels Company

    620.20
    03:54 PM | 22 JUL 2024
    42.95 (7.44%)

    Chalet Hotels

    820.00
    03:29 PM | 22 JUL 2024
    55.9 (7.32%)
    More from Top Gainers

    Recommended For You

      More Recommendations

      Gold Prices

      • 24K
      • 22K
      Bangalore
      75,510.000.00
      Chennai
      75,657.000.00
      Delhi
      75,217.000.00
      Kolkata
      75,144.000.00

      Fuel Price

      • Petrol
      • Diesel
      Bangalore
      102.86/L0.00
      Chennai
      100.98/L0.00
      Kolkata
      104.95/L0.00
      New Delhi
      94.72/L0.00
      OPEN IN APP
      HomeMarketsCibilPremiumBudget