Greenply Industries Q2 net profit rises 51 per cent

Greenply Industries Q2 net profit rises 51 per cent Kolkata, Nov 9 (PTI) Greenply Industries has reporteda 51 per cent increase in its consolidated net profit to Rs26.4 crore during the second quarter of the current fiscal ascompared to Rs 17.5 crore in the year-ago period.

Total consolidated income for the quarter endedSeptember 30, 2019 stood at Rs 380.4 crore as against Rs 363.5crore recorded in the corresponding period of the last fiscal.

Earnings before interest, tax, depreciation andamortisation (EBITDA) increased by 22.1 per cent to Rs 45crore, the company said in a statement.

Greenply Industries' CMD Rajesh Mittal said, 'E-waybill and GST implementation is becoming strict and we arewitnessing that the unorganised players raise prices, leadingto a reduction in the price disparity.' The company's expansion in Gabon in West Africa is'shaping up well' and it is looking forward to a betterperformance in the coming years, he said. PTI DCBDC BDC