India's Greenply falls as surge in costs drags Q1 earnings

Greenply Industries

25/07/2023 10:47

** Shares of Greenply Industries  GRPL.NS  fall as much as
4.85% to 167.60 rupees, a six-week low
    ** The plywood and allied products maker posts 96% Y/Y slide
in June-qtr consolidated net profit
    ** Core profit down 26% due on rising costs; core profit
margin contracts to 6.26% from 8.84%
    ** Trading volume is 799,693 shares as of 3:06 p.m. IST,
nearly quadruple the 30-day avg - Refinitiv data
    ** Of 9 analysts tracking GRPL, five maintain "strong buy",
three suggest "buy" and one recommends "hold"; median TP is 215
rupees 
    ** GRPL up 18.4% in 2023 so far compared to 8.5% rise in
benchmark Nifty 50 index  .NSEI 

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))