Century Plyboards posts net loss of Rs 11.79 cr in Q1

Century Plyboards (India) Ltd on Wednesday reported a consolidated net loss of Rs 11.79 crore for the first quarter ended June 2020. The company had reported a net profit of Rs 39.91 crore in April-June quarter a year ago, Century Plyboards said in a BSE filing. Its revenue from operations stood at Rs 203.02 crore during the quarter under review.

Century Plyboards (India) Ltd on Wednesday reported a consolidated net loss of Rs 11.79 crore for the first quarter ended June 2020. The company had reported a net profit of Rs 39.91 crore in April-June quarter a year ago, Century Plyboards said in a BSE filing.

Its revenue from operations stood at Rs 203.02 crore during the quarter under review. It was at Rs 582.27 crore in the corresponding quarter of previous fiscal. The leading plywood company's total expenses stood at Rs 224.76 crore in June quarter.

According to the company, "results of this quarter are not comparable to the previous corresponding periods" as it had temporarily shut down operations, including factories and branch offices, during the lockdown, leading to a near halt of business activities which impacted its sales volume and profit. Commenting on the company's performance, Century Plyboards (India) Chairman Sajjan Bhajanka said, "Satisfactory results with cash profit in historically most difficult situation. Future looks bright with improvement every month." Shares of Century Plyboards (India) Ltd on Wednesday settled 2.53 per cent lower at Rs 130.75 on the BSE.