Interior infrastructure company Greenply Industries today reported an over two fold rise in its net profit at Rs 29.37 crore for the quarter ended December 31, 2012 mainly on account of robust sales.
The company had posted a net profit of Rs 14.09 crore for the corresponding period last fiscal, Greenply Industries said in a statement.
Net sales of the company rose to Rs 509.26 crore for the quarter under consideration from Rs 418.10 crore for the corresponding period previous fiscal.
In another filing to BSE, the company said its board has approved to set-up a veneer or veneer-cum-plywood unit in Myanmar through incorporation of a subsidiary in Myanmar.
The company will approach the concerned authorities of Myanmar for necessary approval in this respect.
Shares of Greenply Industries today closed at Rs 440.70 per scrip on BSE, up 2.98 per cent from previous close.