Supreme Petrochem Q3 profit rises 61%

Supreme Petrochem Ltd. has posted a net profit of Rs 226.88mn for Q3-2005 ended March 31, 2005, representing a 61% rise as against Rs140.72mn in the same quarter last year. Net sales for the quarter were Rs 3.82bn and Earnings Per Share (EPS) for the January-March quarter stands at Rs 2.32 as compared to Rs1.38 in Q3-2004. The Board of Directors declared an Interim Dividend of 12% on the equity share capital of Rs975.1mn. Total outflow inclusive of dividend tax will be Rs133.4mn. Supreme Petrochem’s Polystyrene capacity is to be expanded to 300,000 tpa in stages, and will be operational by April 2006. Supreme Petrochem has commenced implementation of an EPS project with capacity of 60,000 tpa, scalable to 120,000 tpa, scheduled for completion by June 2006. Work on Minor Port is progressing and the same is expected to be completed by October 2006.