Century Plyboards (India) Ltd has reported a nearly threefold rise in its consolidated net profit to Rs 92.62 crore for the first quarter ended on June 2022 compared to last year a net profit of Rs 31.07 crore in the April-June quarter, the company declared in it Q1 financial report. Its revenue from the operation rose 94.25 per cent to Rs 888.78 crore during the quarter under review. It was Rs 457.54 crore in the corresponding quarter previous fiscal.
Segment wise generated revenue in Q1 FY 2023 include: from the plywood and allied products in Rs 482.35 crore, laminate and allied products Rs 163.56 crore, MDF Rs 155.60 crore, Particle Board 5 1.07 crore, etc and from the newly established venture Century Freight Station Services nearly Rs 21 crore. While the profit was from Plywood and allied products include 46.71 crore, laminates nearly Rs 22 crore, MDF nearly Rs 53 crore and particle board nearly Rs 18 crore and from container service Rs 3.2 crores.
The company presentation on the financial result indicated that the work on brownfield MDF expansion at Hoshiarpur is in full swing and is likely to come on stream by Oct’22-end. With regards to the upcoming greenfield MDF project at Andhra Pradesh, the project is likely to commission in H2FY24. The laminate greenfield project at Andhra Pradesh is also expected to come on stream in Q2FY24.