Supreme Petrochem posts 5% drop in Q2 op profit

29 October 2007 11:42  [Source: ICIS news]

MUMBAI(ICIS news)--Supreme Petrochem posted a 5% year-on-year drop in second quarter operating profit to Indian rupees (Rs) 178.6m, the company said on Monday.

For the quarter, the company’s net sales were down 3% to Rs3.47bn compared to the year-ago period and its net profit fell 13% to Rs60.5m ($1.5m).

Quarter-over-quarter, its operating profit was down 31% and its net sales fell 7%. The company said its second quarter net profit was down about 49%.

Shares in Supreme Petrochem were up 4.38% to Rs27.40 at 10:27 GMT on Monday on the Bombay Stock Exchange.

($1 = Rs39.45)

By: Isha Jha
+65 6780 4359

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