Supreme Industries Reports 26.83% Profit Surge in Q1 FY24

Supreme Industries Ltd reported a 26.83% increase in consolidated profit for the June 2024 quarter, reaching Rs 273.37 crore. The revenue rose by 11.3% to Rs 2,636.35 crore. The company sold 1,73,835 MT of plastic goods, showing a volume growth of 17% compared to the previous year.

Supreme Industries Ltd, a prominent plastic products manufacturer, has reported a substantial 26.83% rise in its consolidated profit for the June 2024 quarter, amounting to Rs 273.37 crore. This marks a significant improvement from the Rs 215.54 crore net profit in the same period last year, according to a recent regulatory filing.

The company's revenue from operations also saw an 11.3% uptick, reaching Rs 2,636.35 crore for the reviewed quarter, compared to Rs 2,368.58 crore a year earlier. Total expenses increased by the same percentage, totaling Rs 2,338.38 crore.

Supreme Industries recorded a sale of 1,73,835 metric tons (MT) of plastic goods, achieving a net product turnover of Rs 2,612 crore. This represents a volume and product value growth of approximately 17% and 12%, respectively, over the corresponding quarter last year. Despite these positive financial indicators, shares of Supreme Industries Ltd fell 1.53%, closing at Rs 5,690 apiece on the BSE.

(With inputs from agencies.)