Latest News | Century Plyboards Q1FY'23 Net Up 184pc to Rs 96 Cr

Kolkata, Jul 20 (PTI) Century Plyboards (India) Ltd on Wednesday posted a whopping 184 per cent increase in net profit to Rs 96.47 crore for the first quarter of the current fiscal, amid inflationary pressure.

The profit after tax was Rs 33.89 crore in the corresponding period last year.

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Net revenue from operations for the April-June quarter of the 2022-23 financial year was Rs 881.48 crore, up by 96.4 per cent from Rs 448.88 crore in the year-ago period.

"We have performed exceptionally well across our product portfolio during the quarter under review. Sequentially, the company's revenue was up marginally during the June quarter. Despite the sustained input cost pressure in core segments of plywood and laminate, we have been able to mitigate a large part of our gross margin pressure by taking corresponding price increases and also through operating leverage,” Century Ply chairman Sajjan Bhajanka said.

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The company also considered and approved a scheme of arrangement with its wholly-owned subsidiary Century Infra Ltd for the transfer and vesting of the container freight station services on a slump sale basis.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)