 "Supreme Industries hits lifetime high")
Supreme Industries has hit lifetime high of Rs 754, up 2%, extending is past four day’s gain on the BSE, after the company reported more than 100% jump in net profit for the quarter ended December 31, 2015.
The stock has outperformed the market by gaining 13% from Rs 666 on January 22, as compared to 2% rise in Nifty 50.
The plastic products maker had posted consolidated net profit of Rs 82.14 crore in December quarter on back of strong operational performance. It had profit of Rs 35.26 crore in the same quarter last fiscal.
Consolidated net sales for the quarter decreased 6% at Rs 1,002 crore over the previous year quarter. Total expenditure declined by 9% at Rs 880 crore on year on year basis, due to lower raw material cost.
The company said raw material prices boosted consumption of the plastic in the country by 14% volume between April 2015 and December 2015.
Profit before interest, tax and depreciation (PBDIT) margin improved by 340 basis points at 15.48% in December against 12.08% in year ago quarter.
The company has received educational order from HPCL for 4500 pieces of composite cylinders comprising of two sizes i.e. 5kgs & 10kgs. Supplies are expected to be effected by February 2016, it added.
At 10:20 AM. the stock was up 1% at Rs 746 on the NSE with a combined 21,018 shares changed hands on the NSE and BSE.
The stock has outperformed the market by gaining 13% from Rs 666 on January 22, as compared to 2% rise in Nifty 50.
The plastic products maker had posted consolidated net profit of Rs 82.14 crore in December quarter on back of strong operational performance. It had profit of Rs 35.26 crore in the same quarter last fiscal.
Consolidated net sales for the quarter decreased 6% at Rs 1,002 crore over the previous year quarter. Total expenditure declined by 9% at Rs 880 crore on year on year basis, due to lower raw material cost.
The company said raw material prices boosted consumption of the plastic in the country by 14% volume between April 2015 and December 2015.
Profit before interest, tax and depreciation (PBDIT) margin improved by 340 basis points at 15.48% in December against 12.08% in year ago quarter.
The company has received educational order from HPCL for 4500 pieces of composite cylinders comprising of two sizes i.e. 5kgs & 10kgs. Supplies are expected to be effected by February 2016, it added.
At 10:20 AM. the stock was up 1% at Rs 746 on the NSE with a combined 21,018 shares changed hands on the NSE and BSE.
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