Supreme Industries Q2 profit down 20% to Rs 165 cr on higher expense

New Delhi: Supreme Industries Ltd, which manufactures plastic products, has reported a 20 per cent decline in its consolidated net profit to Rs 164.74 crore on higher expenses.

Its net profit stood at Rs 206.60 crore in the year-ago period.

Total income grew to Rs 2,409.41 crore during the July-September period of this fiscal from Rs 2,288 crore in the corresponding period of the preceding year.

Supreme operates in various product categories such as plastic piping systems, cross-laminated films and products, protective packaging products, industrial moulded components, moulded furniture, storage & material handling products, performance packaging films and composite LPG cylinders.

"The company has grown 8 per cent in overall volume in the first six months of this year. The company expects to grow 12 to 14 per cent in volume this year," said M P Taparia, Managing Director of The Supreme Industries Ltd.

Supreme Industries, which has 35 manufacturing facilities across India, had posted a net profit of Rs 961 crore on a total income of Rs 10,504.09 crore in the last fiscal year.