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Saturday, Jun 12, 2004

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Greenply net up 23 pc

Our Bureau

New Delhi , June 11

GREENPLY Industries Ltd (GIL) has announced a 23.02 per cent increase in net profit at Rs 4.59 crore in 2003-04 against Rs 3.73 crore recorded during the previous fiscal. The company's income was up 9.04 per cent at Rs 160.03 crore in 2003-04 from the Rs 147.04-crore recorded during the previous fiscal, a company release said here on Friday. The earning per share (EPS) improved by 34.29 per cent to Rs 5.60, the release said.

Encouraged by the impressive financial performance, the board has recommended an 11 per cent dividend for 2003-04, it said. Greenply had recently announced its decision to significantly scale-up its operations through extensive expansion and marketing plans. In the wake of a rapidly growing industry, the company is expanding the capacity of its laminates division by 33 per cent with a total investment of Rs 16.5 crore, the release said.

The Rs 254-crore turnover company has also stepped up its marketing operations, with an increased emphasis on advertising and customer involvement, it said.

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