Supreme Industries Navigates Profit Dip Amid Rising Expenses

Supreme Industries Ltd, a leading manufacturer of plastic products, has announced a 20% drop in its consolidated net profit, falling to Rs 164.74 crore. This decline has been attributed primarily to increased expenses.

In comparison, the company's net profit stood at Rs 206.60 crore during the same quarter of the previous year. However, the firm did experience growth in its total income, which climbed to Rs 2,409.41 crore, up from Rs 2,288 crore in the year-ago period.

Despite the profit dip, Supreme has recorded an 8% growth in overall volume in the first half of the year and anticipates a 12-14% volume growth by year-end, according to Managing Director M P Taparia. The company, which operates 35 manufacturing facilities across India, had a net profit of Rs 961 crore on a total income of Rs 10,504.09 crore in the last fiscal year.