India's Supreme Petrochem hits near 8-month low as expenses dent quarterly profit

Supreme Petrochem

28/10/2022 05:56

** Shares of Supreme Petrochem Ltd  SPTL.NS  fall as much as
5.2% to 675 rupees, their lowest since March 3
    ** Co said on Thursday its Sept-qtr profit after tax more
than halved to 596.5 mln rupees ($7.24 mln) as expenses rose,
mainly due to increased input costs
    ** The Mumbai-based co also reported a 4.3% rise in Sept-qtr
total revenue of 12.46 bln rupees year-on-year 
    ** SPTL on Thursday declared an interim dividend of four
rupees per share
    ** The petrochemical company also approved sub-division of
shares in the ratio 1:2
    ** Co said it stopped sale of material to producers of
single-use plastics from July 1, as per govt norms
    ** About 62,100 shares change hands vs 30-day avg of 36,646
shares
    ** Supreme Petrochem stock down 1.4% YTD this year, up to
last close 
    ($1 = 82.3400 Indian rupees)
 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com;))