Plywood maker Greenply Industries said its net profit rose by 24.73 per cent to Rs 12.96 crore for the quarter ended June 30, 2011, over the same period previous fiscal.
The company had reported a net profit of Rs 10.39 crore in the same period last fiscal, Greenply Industries said in a statement.
The firm's net sales stood at Rs 352.32 crore for the quarter ended June 30, 2011, compared to Rs 262.07 crore in the same period last fiscal.
Commenting on the results, Greenply Industries Joint Managing Director and CEO Saurabh Mittal said, "We expect better results in future on achieving optimum utilisations and superior value-mix in the new MDF and Laminate plants."
Greenply manufactures decorative laminate, plywood, decorative veneers and MDF (medium density fiberboard).
Shares of Greenply Industries today closed at Rs 228 on Bombay Stock Exchange, down 2.63 per cent from its previous close.