Supreme Petrochem reports net loss of Rs 7.25 crore for quarter ended December 31

25-Jan-12

Leading polystyrene producer Supreme Petrochem (SPL) has reported a net loss of Rs 7.25 crore for the quarter ended December 31 amid higher cost of inputs and lower demand for end products. A profit of Rs 15.85 crore was reported by SPL in the same period last year. SPL's total sales for the quarter rose to Rs 499.52 crore from Rs 456.7 crore in the corresponding period last year. "High input costs, shrinking domestic market due to low demand for end products including household appliances, sluggish export market as a consequence of economic slowdown and political unrest and volatile foreign exchange rates resulted in reduction in overall sales by 11.65 per cent and squeezed margins, adversely impacting the quarterly performance," the company said in a statement here adding it foresees an improvement in the market conditions in the second half of the financial year.