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Supreme Petrochem Ltd (SPL) has posted a net profit at Rs 4.59 crore in the fourth quarter ended June 2012 compared to Rs 21.18 crore in the same period last year.
The company's net profit also declined to Rs 31.37 crore for the year ended June 2012 against Rs 87.69 crore for 2010-11, a company statement said here.
The company's net revenues stood at Rs 603.40 crore in Q4 of FY12 compared to Rs 517.46 crore in the year-ago period. The company earned net revenue of Rs 2,272.67 crore for the year ended June 30, 2012 compared to Rs 1,943.49 crore in the previous year.
The board of directors of the company have recommended a dividend of Rs 1.40 per equity share of Rs 10 each for the year 2011-12.
SPL's operations during the year suffered mostly on account of fall in export sales due to overall downturn in global economy with disturbances in many countries in Gulf region, debt crises in Europe, downfall of rupee, the release said.
These factors not only increased the cost but also resulted in lower volume sales squeezing the margins, it added.
According to the release, SPL's new plants for expandable polystyrene commenced commercial production from February, 2012, taking its total installed capacity at 72,100 TPA at its plant sites in Maharashtra and Tamil Nadu.