Century Ply

This Kolkatta based company, which sells ply under the brand name of Centuryply, has posted a net profit of Rs.41 crore, up 105% (YoY) on a 26% rise in net sales at Rs.382 crore. This surge in bottomline was despite a 75% rise in interest outgo and six times surge in tax expense. Thus the company’s performance was more on account of operational efficiency and this will go down well the market.

But this YoY surge could be on account of a lower base effect as sequentially, the performance is not too encouraging, with net sales dropping 6% though net profit showed a rise, albeit much muted at 14% compared to the 105% YoY surge. The company had ended FY14 with a net profit at Rs.67 crore and its 9MFY15 net profit has already surpassed that with Rs.103 crore. Most certainly, it will end FY15 on a high note.