Supreme Petrochem reports net profit for Q3 09

India’s leading polystyrene producer Supreme Petrochem Ltd (SPL), has reported a net profit of Rs. 34.19 crore for Q3 ended 31st March, 2009, up by 462% as compared to Rs.6.08 crore for the corresponding quarter, a year ago. The net turnover for the quarter under review is Rs. 331.88 crore. The Company has wiped off 75% of the loss of Rs.45.75 crore carried forward from the second quarter ended on 31st December, 2008. The 9 months period under review has witnessed steep volatility in polymer input and finished goods prices. The polystyrene industry has passed through a bad phase due to such volatility, which has lead to only marginal growth in consumption of polystyrene in the Indian economy. However, SPL has achieved volume growth of 17.06%, for the quarter under review over the corresponding period of the last year.
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