Supreme Q2 net more than doubles to Rs 82 cr

Supreme Industries today reported more than twofold increase in consolidated net profit at Rs 82.14 crore for the quarter ended December 31, on account of lower expenses.
The company had clocked a net profit of Rs 35.25 crore.
Total income from operations declined to Rs 1,001.73 crore in the October-December quarter from Rs 1,065.83 crore in the year ago period, the company said in a regulatory filing.
Profit was up despite fall in income as expenses declined to Rs 880.18 crore in the period under review from Rs 970.38 crore last quarter.
Supreme Industries follows July to June as its financial year.

The company sold 76,613 tonnes of plastic goods and achieved net turnover of Rs 989.48 crore during the second quarter as against sale of 73,044 tonnes and product turnover of Rs 971.79 crore in the year ago period.

The board today recommended interim dividend at 125 per cent of Rs 2.50 per share on equity shares of Rs 2 each.
Shares of the company today closed at Rs 686.40 on BSE up by 2.71 per cent.
Supreme Industries is one of the leading plastics processors.