Supreme Petrochem tanks after reverse turnaround in Q1

Supreme Petrochem slumped 8.51% to Rs 106.50 at 9:50 IST on BSE after the company reported net loss of Rs 24.73 crore in Q1 September 2015 compared with net profit of Rs 10.74 crore in Q1 September 2014.

The result was announced after market hours yesterday, 27 October 2015.

Meanwhile, the S&P BSE Sensex was down 98.20 points or 0.36% at 27,155.24.

On BSE, so far 2.18 lakh shares were traded in the counter as against average daily volume of 57,000 shares in the past two weeks.

The stock hit a high of Rs 107 and a low of Rs 99 so far during the day.

Supreme Petrochem's net sales declined 8.3% to Rs 636.89 crore in Q1 September 2015 over Q1 September 2014.

Supreme Petrochem is the leader in polystyrene business in the Indian market place. The company is also the largest exporter of polystyrene from India. Polystyrene is widely employed in the food-service industry as rigid trays and containers, disposable eating utensils, and foamed cups, plates, and bowls.

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