Greenlam Industries Q2 results: Greenlam Industries Q2 results: Net profit rises 11% to Rs 21 crore

New Delhi: Surfacing options supplier Ltd on Tuesday reported an 11 per cent enhance in consolidated internet revenue at Rs 20.7 crore for the second quarter ended September on the again of strong gross sales. The corporate, which posted a consolidated internet revenue of Rs 18.6 crore in the identical interval final quarter, stated its board at a gathering held on Tuesday authorised elevating of as much as Rs 150 crore via issuance of non-convertible debt securities on personal placement foundation.

Consolidated internet income within the second quarter grew by 57 per cent to Rs 454.2 crore as in opposition to Rs 289.3 within the year-ago interval, Greenlam Industries Ltd stated in a regulatory submitting.

Through the interval, its laminate enterprise revenues grew by 60.4 per cent in worth phrases and 46.7 per cent in quantity phrases on a year-on-year foundation, it stated.

Greenlam Industries Ltd Managing Director and CEO Saurabh Mittal stated, “The present quarter witnessed a considerable prime line progress throughout the laminate and ornamental veneer class.”

Nevertheless, he stated steep inflationary enhance in uncooked materials prices and provide facet disruptions together with time lag in elevating costs resulted in decrease gross margins.

“Although we’ve handed on uncooked materials prices to the market, the identical has been insufficient contemplating the rising prices of uncooked materials. We could need to take additional worth hikes going ahead if uncooked materials costs proceed to stay elevated,” Mittal added.