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Profit after tax slumps in Century Plyboards

Profit after tax slumps in Century Plyboards

Kolkata, May 16 (UNI) India’s leading plywood company, Century Plyboards (I) Limited's profit after tax for the quarter ending March 31, 2018 had shown a decrease of 36% over the corresponding period of last fiscal.

The company which announced its results for the fourth quarter of FY 17-18 today, said Profit After Tax for the quarter ending March 31, 2018, was Rs. 35.72 crores, showing a decrease of 36% over corresponding period of last financial year's Rs.55.91 crores, a company release said.

Profit After Tax for the Financial Year was Rs.156.64 crores, a decrease of 16%, compared with the Profit After Tax of Rs.185.56 crores, achieved during last financial year.



The Board of Directors has recommended a final dividend of Rs.1/- per share, thereby making the total dividend to Rs. 1/-per share for the Financial Year 2017-18.



Highlights:

Total Net Revenue from operations for the Quarter, ending March 31, 2018 were Rs. 544.13 crores, an increase of 11.4% over the corresponding period of last financial year's Rs 488.54 crores and Net revenue from operations for the Financial Year 2017-18 was Rs.1967.22 crores, showing a growth of 10.4%, over previous financial year's Rs.1782.46 crores.



Earnings Before Depreciation Interest and Tax for the last quarter of Financial Year 2017-18 was Rs.84.46 crores, a decrease of 13.8% over corresponding period of last financial year Rs.97.93 crores and for the Financial Year 2017-18 it was Rs.312.73 crores, a decrease of 0.6%, compared with last financial year's Rs.314.71 crores.



The release pointed out that profit was on lower because additional depreciation for capital intensive MDF plant for which full year revenue is yet to come. Depreciation was higher by Rs 28.66 crores than last year. Adverse forex difference was another reason, it said. This year they had a loss in forex and last year there was a gain. The total impact was to the tune of Rs 24.74 crores.



Laminates have performed exceptionally well during the quarter under review.



Mr Sajjan Bhajanka, Chairman, said, “Result for the quarter and the year are satisfactory. We are now ready to move on the growth path with consolidation. After two years of intense expansion through the newly constructed MDF plant, Particle Board Plant, 60% addition in Laminates capacity and a new plywood unit at Guwahati, we are looking forward for a 25% growth in revenue and profitability.”

UNI PL

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(Rptg, Correcting Para 1)
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