 "Supreme Petrochem hits record high on strong March quarter results")
Supreme Petrochem has moved higher to its record high at Rs 150, up 12% on the BSE, after the company reported nearly three-fold jump in its standalone net profit at Rs 54.34 crore for the fourth quarter ended March 2016 (Q4FY16) on the back strong operational income.
The company engaged in petrochemicals business had profit Rs 20.47 crore in the same quarter previous year.
Income from operations during the quarter under review rose by 23% to Rs 809 crore against Rs 657 crore in the corresponding quarter of previous fiscal.
The company’s earnings before interest, taxes and amortization (EBITA) margins improved substantially to 10.77% in March quarter from 4.22% in previous year quarter.
At 01:29 pm, the stock was up 10% to Rs 147 on the BSE as compared to 0.07% fall in the benchmark S&P BSE Sensex. The trading volumes on the counter surged an over nine-fold with a combined 2.98 million shares changed hands on the BSE and NSE so far.
The company engaged in petrochemicals business had profit Rs 20.47 crore in the same quarter previous year.
Income from operations during the quarter under review rose by 23% to Rs 809 crore against Rs 657 crore in the corresponding quarter of previous fiscal.
The company’s earnings before interest, taxes and amortization (EBITA) margins improved substantially to 10.77% in March quarter from 4.22% in previous year quarter.
At 01:29 pm, the stock was up 10% to Rs 147 on the BSE as compared to 0.07% fall in the benchmark S&P BSE Sensex. The trading volumes on the counter surged an over nine-fold with a combined 2.98 million shares changed hands on the BSE and NSE so far.
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