Plywood maker Century Plyboards (India) reported an over 37 per cent rise in net profit to over Rs 52 crore for the quarter-ended September. The net profit in the year-ago-period stood at Rs 38 crore. Net revenue from operations during the quarter stood at Rs. 589.35 crore; an increase of over 4 per cent compared with the corresponding quarter Rs.564.44 crore. Favourable market conditions, lower commodity prices and better sales volume have led to significant margin improvement. “Foray into particle board and MDF has shown phenomenal results and EBDITA margin has improved substantially,” said Mr. Sajjan Bhajanka, Chairman, Century Ply.
“We have grown strength to strength despite not very good economic scenario which all of you are aware of. Our revenues and margins have improved significantly, and this performance is shown in Q2 numbers. Plywood segment is still under pressure and we are seeing flattish performance here. Secondly, real estate sector growth is anticipated in times to come which will help in growing in business of this kind substantially. Introduction of GST, particularly the implementation of the GST and corrective reforms will certainly deliver robust growth in times to come. In laminate division, we have seen exceptional growth as well as significant improvements in margins. Our new venture of MDF and particleboard have reached the to optimum and best capacity utilization. The result is, we are achieving desired topline and very good operational margins,’’ said Mr.Bhajanka.