Largest PS producer in India sees dip in net profit for 07-08

25-Aug-08

India's largest polystyrene producer, Supreme Petrochem Ltd, posted a drop in net profit from Rs.33.25 cr in for 06-07 to Rs.22.57 cr for the 07-08 ending June 30. The notional foreign exchange translation loss for the year 2007-08 amounting to Rs.13.71 cr added to the declined profit. Supreme Petrochem will complete it's plan to augment the compounding line to a capacity of 25,000 tpa by Q3 of 2008. While the commissioning of phase-1 comprising of 9,000 tpa EPS facility in Chennai is complete, commissioning for phase-2 comprising of 20,000 tpa facility is slated to be complete by Q4 of 2008. The Extruded Polystyrene Foam (XPS) 5000 tpa facility is under construction and will start operations by Q4 of this year.