The company's net profit surged to Rs 171.62 in Q3 FY21 from Rs 2.07 crore Q3 FY20.
Net sales rose jumped 50% to Rs 928.79 crore in the third quarter from Rs 619.08 crore in the same period last year.
Total expenditure was Rs 690.28 crore (up 13.2% YoY), interest payments were Rs 2.49 crore (up 24.5% YoY) and depreciation costs were Rs 10.05 crore (up 7% YoY) in Q3 FY21.
Profit before tax in Q3 December 2020 stood at Rs 233.32 crore, significantly higher as compared to Rs 2.68 crore in Q3 December 2019. Current tax expense in the December 2020 quarter increased to Rs 62.82 crore from Rs 0.80 crore in Q3 December 2019.
Supreme Petrochem is engaged in the business of styrenics and manufactures polystyrene (PS), expandable polystyrene (EPS), masterbatches and compounds of styrenics and other polymers, extruded polystyrene insulation board (XPS) and styrene methyl methacrylate (SMMA).
The scrip fell 3.24% to Rs 400. In the past six months, the stock has zoomed 106.27% while the benchmark Sensex has added 30.38% during the same period.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.