India’s leading plywood company,Century Plyboards(India) Ltd., held their board meeting today to announce the company’s Q1 financial results for the quarter ending June 30th, 2022.
- Net Revenue from operations for the Quarter, ending 30th June, 2022 were Rs. 881.48crores; an increaseof 4%over corresponding period of last financial year Rs. 448.88crores.
- Earnings before Depreciation Interest and Tax for the last quarter of Financial Year 2022-23was Rs. 151.26crores, anincreaseof 128.8% over corresponding period of last financial year Rs. 66.11crores.
- Profit After Taxfor the quarter ending 30thJune, 2022, was 96.47 crores; showing an increaseof 184.68% over corresponding period of last financial year Rs.33.89crores.
- Wehave performed exceptionally well across our product portfolio during the quarter under review
Commenting on the company’s performance, Mr. Sajjan Bhajanka, Chairman, Century Plyboards(I) Ltd said “Q1FY23 (Q1 being a leanest quarter in a financial year) ended with the company achieving revenue which was just 1.5% lower compared to Q4FY22 sales (Q4 being a peak quarter in a financial year). Despite the sustained input cost pressure in core segments of plywood & 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.”