For the quarter ended March 2010, Greenply Industries announced a 55% increase in its net profit, which stood at Rs 13.3 crore.

The company had recorded a net profit of over Rs 8.58 crore in the like period of last year.

Mr. Rajesh Mittal, managing director of the company, said, "We are pleased to announce that Greenply Industries is the first interior infrastructure company to achieve a consolidated turnover figure of Rs 1,007 crore."

Mr. Rajesh stated that the fourth press commissioned at the Nalagarh unit assisted the group to post two fold increase in its production capacity (32 million square metres).

"We further look at full utilisation of our production capacity during the current financial year which will be a major boost to our export plans," he added.

Greenply Industries involves in the fabrication of decorative laminate, plywood, decorative veneers and medium density fiberboard (MDF).

"We also expect our market share in the organised laminate industry to increase to about 30 percent from the present 20 percent with the establishment of this new unit," he also said.

The company has over 32 divisions across India in addition to eight marketing offices.

As a brand, Greenlam is present in over 60 countries and has a strong presence in the US, Europe, Singapore, Thailand, Malaysia, and the UAE. (With Inputs from Agencies)