Supreme Petrochem Q2 profit rises 4 times to Rs 26.5 crores, as net sales rises 28%

21-Oct-13

Polystyrene maker Supreme Petrochem’s Q2 profit soars 4 times to Rs 26.5 cr Net sales increased 28 percent to Rs 783.6 crore in September quarter from Rs 613.7 crore in a year ago period, including overseas income from operations of Rs 205.05 crore (as against Rs 97.43 crore in Q2FY13). Second quarter (July-September) net profit surged four times year-on-year to Rs 26.5 crore on strong overseas revenues, despite higher tax expenses. Net sales increased 28 percent to Rs 783.6 crore in September quarter from Rs 613.7 crore in a year ago period, including overseas income from operations of Rs 205.05 crore (as against Rs 97.43 crore in Q2-13). "The likely rationalisation of Styrene Monomer (main raw material) prices and stabilisation of rupee will help to improve market sentiment and assist demand growth in the last two quarters of current financial year," the company said in its release. Tax expenses jumped four times to Rs 13.03 crore from Rs 3.25 crore during the same period.