Supreme Industries Q3 profit rises 22% to Rs 256.17 crore

Plastic products maker Supreme Industries Ltd on Friday reported an increase of 22 per cent in its consolidated net profit to Rs 256.17 crore in the third quarter ended December 2023.

The company had posted a net profit of Rs 210.03 crore in the October-December period a year ago, according to a regulatory filing.

Its total revenue from operations was up 6 per cent to Rs 2,449.10 crore in the October-December quarter.

It was at Rs 2,310.71 crore in the corresponding period of previous fiscal.

Total expenses of Supreme Industries were at Rs 2,152.66 crore, up 3.82 per cent in the December quarter.

Supreme Industries' total income, which includes other income, was at Rs 2,469.81 crore, up 6.5 per cent in third quarter of current fiscal.

Over the outlook, its Managing Director M P Taparia said, "The company remains optimistic for business opportunities and continues to commit more capex in line with its growth plans.

"Total commitments including acquisition of business of Parvati Agro Plast and carry forward commitments of previous year may exceed Rs 1,000 crores. However, total cash outflow is not likely to exceed Rs 750 crore for the year and the same shall entirely be funded from internal accruals." Shares of Supreme Industries Ltd on Friday settled at Rs 4,155.05 on BSE, up 5.80 per cent from the previous close.