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The NKOK SEZ, Gabon, West Africa unit had been partially affected due to the present political unrest in Gabon.
“As per the information available with us, the military has asked the businesses to resume normal operations today itself and is working on restoring normalcy,” said the company.
The company added that based on the present scenario, it doesn't see any significant incremental impact of this situation on the financial performance of the unit.
Greenply Industries has a leadership position in plywood industry with four manufacturing facilities spread across the country. The company provides interior products for the domestic and global markets including plywood, block board, flush doors, decorative veneers and PVC products.
The company's consolidated net profit tumbled 96% to Rs 0.82 crore in Q1 FY24 as against Rs 20.73 crore in Q1 FY23. However, net sales increased 5% YoY to Rs 476.14 crore in the quarter ended 30 June 2023.
The scrip rose 0.41% to currently trade at Rs 161 on the BSE.
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