Supreme Petrochem Ltd reported its financial results for the second quarter of FY25, showing strong growth in both revenue and net profit. The sale of products for the quarter ended September 30, 2024, stood at ₹1,500.44 crore, reflecting a 17.8% year-on-year (YoY) growth compared to ₹1,273.46 crore in the same quarter last year. On a quarter-on-quarter (QoQ) basis, the sale of products saw a slight decline of 4.4% compared to ₹1,570.15 crore in Q1 FY25.
The net profit for the quarter was ₹903.42 crore, marking a 15.7% YoY increase from ₹780.54 crore in Q2 FY24. However, the net profit declined 1.3% QoQ, compared to ₹919.42 crore in Q1 FY25.
Additionally, the company declared an Interim Dividend of ₹2.50 per equity share (125%) for FY2024-2025, with the record date set for October 25, 2024. The dividend payout will result in an outgo of ₹47.01 crore.
Moreover, the company updated that the 1st line of the Mass ABS project with a capacity of 70,000 TPA, under license from M/s. Versalis, is now expected to be completed by March 31, 2025, due to delays in the supply of proprietary equipment.