 "Supreme Petrochem soars over 15% post Q3 results")
Supreme Petrochem has soared 16% to Rs 117 on the BSE after the company posted net profit of Rs 26 crore for the third quarter ended December 2015 (Q3FY16), due to lower raw material cost.
The petrochemicals company had loss of Rs 59 crore in the same quarter last year and Rs 25 crore in September 2015 quarter.
Net sales of the company however declined 1.6% to Rs 601 crore against Rs 611 crore in the corresponding quarter of previous fiscal. Raw material cost has decreased 28% to Rs 360 crore on year-on-year basis.
The stock zoomed 20% to Rs 121 on the BSE in early morning trade. Till 10:31 a.m. a combined 1.13 million shares changed hands on the counter as compared to sub 100,00 shares that were traded daily in past two weeks on the BSE and NSE.
The petrochemicals company had loss of Rs 59 crore in the same quarter last year and Rs 25 crore in September 2015 quarter.
Net sales of the company however declined 1.6% to Rs 601 crore against Rs 611 crore in the corresponding quarter of previous fiscal. Raw material cost has decreased 28% to Rs 360 crore on year-on-year basis.
The stock zoomed 20% to Rs 121 on the BSE in early morning trade. Till 10:31 a.m. a combined 1.13 million shares changed hands on the counter as compared to sub 100,00 shares that were traded daily in past two weeks on the BSE and NSE.