Half yearly post tax profits are Rs.27.11 crores as against a loss of Rs.45.75 crores in the corresponding period in the previous year. Net sales rose to Rs.734.21 crores (previous year Rs.689.85 crores), depreciation Rs.10.66 crores (previous year Rs.9.06 crores) and interest Rs.8.37 crores (previous year Rs.10.38 crores).
Commenting on the results for the half year ended December 31, 2009, SPLs Chairman Shri M. P. Taparia attributed the improved showing to the Companys focus on products and markets giving better netbacks, improved efficiency and to the improving domestic markets. He explained that besides Polystyrene, other polymers of Styrene viz. Expandable Polystyrene and Speciality Polystyrene are also contributing to the improved profitability. Extruded Polystyrene Insulation Board (XPS) has been well accepted in both domestic and export markets. Company is working on improving the reach of this product.
We expect the share of such value added products in the Companys turnover and profitability to increase steadily in future, he added.