Greenply Industries, a leading player in the plywood and allied products industry, showcased a robust performance in the third quarter of 2023, marked by a significant increase in net sales. The company reported a remarkable growth of 22.84% in net sales, reaching Rs 607.73 crore in September 2023, compared to Rs. 494.75 crore in the same period last year.
Despite the impressive revenue figures, Greenply Industries experienced a decline in net profit for Q3 2023. The quarterly net profit stood at Rs. 13.91 crore, reflecting a downturn of 41.05% from Rs. 23.59 crore in September 2022.
On the operational front, the company’s EBITDA demonstrated a positive trend, recording an uptick of 9.18% at Rs. 54.93 crore in September 2023, compared to Rs. 50.31 crore in the corresponding period last year.
While the dip in net profit is noteworthy, Greenply Industries remained resilient in the market, with its shares trading 5.76% higher at ₹174.20 at 2:43 pm, indicating investor confidence in the company’s growth trajectory despite the profit setback.
