Greenlam Industries rises 42 pc to Rs 24.57 crore in June quarter

Greenlam Industries Ltd on Tuesday reported an increase of 41.77 per cent in its consolidated net profit to Rs 24.57 crore for the June quarter.

The company had reported a net profit of Rs 17.33 crore in the April-June period a year ago, Greenlam Industries Ltd said in a BSE filing.

Its revenue from operations during the quarter under review was at Rs 470.61 crore, up 40 per cent, as against Rs 336.13 crore in the corresponding quarter last year.

Greenlam Industries' total expenses also rose nearly 40 per cent to Rs 440.28 crore in the first quarter of FY23. In the year-ago period, the same stood at Rs 315.50 crore.

Its revenue from Laminates & Allied Products segment was at Rs 430.24 crore and Rs 40.36 crore from Veneers & Allied Products in the latest June quarter.

On Tuesday, shares of Greenlam Industries Ltd rose 1.72 per cent to Rs 355 apiece in afternoon trade on BSE.