Supreme Petrochem to merge its arm with itself
Supreme Petrochem to merge its arm with itself >A meeting of the board of directors of Supreme Petrochem will be held on Oct. 4, 2007 to approve the scheme of amalgamation of the subsidiary SPL Polymers with the company.
Supreme Petrochem announced a phenomenal jump in net profit for the quarter ended in June 2007. During the quarter, the company`s profit went up 3.22 times to Rs 120.77 million from Rs 37.52 million in the same quarter last year.
Sales for the quarter rose 7.32% to Rs 3,762.68 million compared with the corresponding quarter, a year ago.
Shares of the company gained Rs 1.6, or 5.49%, to settle at Rs 30.75. The total volume of shares traded was 1,478,995 at the BSE.(Wednesday)
