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Stock Report
Supreme Industries Ltd Quarterly profit down to Rs.18.38 Crores
Posted On : 2007-07-25 11:02:07( TIMEZONE : IST )
Supreme Industries Ltd has announced the following Un-Audited results for the quarter ended June 30, 2007.
The Company has posted a net profit after tax of Rs.183.81 million for the quarter ended June 30, 2007 where as the same was at Rs.274.97 million for the quarter ended June 30, 2006. Total Income is Rs.3654.23 million for the quarter ended June 30, 2007 where as the same was at Rs.3031.09 million for the quarter ended June 30, 2006.
The company has reported an Earnings Per Share (EPS) of Rs.6.65 for the quarter ended June 30, 2007 compared to Rs.20.11 during quarter ended June 30, 2006.
The Company has discontinued its operations or Food Serviceware Products at Daman w.e.f. June 01, 2007 and kept all the assets of the division for disposal. Most of the assets have since been disposed off and other assets have been Valued at their crystalised / estimated realisable value. Gain of Rs 0.638 million net of business closure costs Incurred have been accounted as Exceptional Income during the quarter.
The Company has commenced Constructions of its commercial complex at Andheri (West), Mumbai. The construction work of 1st level basement is completed and work of 2nd level basement is nearing completion. The total area being constructed would be about 2,10,000 square feet, apart from 350 cars parking spaces at basement level. The entire complex consisting of 10 floors is likely to be ready for occupation during the last quarter of 2008. Capital expenditure incurred on the project till June 30, 2007 is Rs 322.40 million.
The Board of Directors has recommended payment of final dividend @ 50% i.e. Rs 5/- per equity share on 2,76,21,674 Equity shares of Rs 10/- each for the year ended June 30, 2007 Which together with interim dividend of 25% i.e. Rs 2.50 per equity share and tax on distribution of dividend absorb a sum of Rs 240.319 million as against Rs 157.478 million in previous year.
The stock closed the day at Rs.266.10, down by Rs.6.30 or 2.31%. The total traded quantity was 64792 compared to 2 week average of 19628. The stock hit an intraday high of Rs.285 and low of Rs.260.
