Century Ply profit slips by 16% y-o-y to Rs 81 cr in Dec quarter
India's leading plywood maker Century Plyboards (India) Ltd on Tuesday reported a standalone net profit of Rs 81.36 crore in the third quarter ended December 2022, a 16 per cent decline compared to a net profit of Rs 97.27 crore a year ago. the company reported a 3 per cent growth in revenue to Rs 877 crore for the quarter under review, compared to Rs 848 crore in the corresponding quarter of FY'22. Century Ply also inaugurated its extended capacity at Hoshiarpur MDF (medium density fibre) plant, the company said in a statement. As part of its investment plan over FY23-FY25, the company is investing about Rs 250 crores in Hoshiarpur. With this, the production capacity has been enhanced by 58.33 per cent, the company said. "The Q3FY23 ended with quarterly revenue of Rs 877 crore on standalone basis, a de-growth of just 2.6 per cent on QoQ basis despite being a seasonally weak quarter," Century Plyboards India chairman Sajjan Bhajanka said. The upcoming greenfield MDF project in And07-02-2023