Century Ply Q3 net down 11% to Rs 41 crore

Plyboard major Century Plyboards India Ltd on Tuesday reported a net profit of Rs 41.4 crore in the third quarter of FY19', down 11 percent over the corresponding period last year despite higher revenue.

The company posted a net revenue of Rs 578.89 crore, up 14 per cent during the quarter under review. Ebita got squeezed to Rs 77.5 crore in Q3FY19' from Rs 92 crore in Q3FY18'.

Century Plyboards managing director Sanjay Agarwal said, "laminate had to face high cost rise in petroleum products. We have taken action for these issues."

"Price increase is effective. Usually, Q4 is the best quarter," he said.

"All business verticals performed well with sustainable revenue and profit achievement. We have maintained a stable performance in Q3 in spite of the continuation of poor real estate off-take. Going forward business is expected to remain stable with growth prospect," Century Plyboards chairman Sajjan Bhajanka said.