SPIC Reports Q1 PAT at Rs 62.55 cr - Southern Petrochemicals Industries

Chennai, Aug 9 (PTI) Agri-nutrient and fertiliser company Southern Petrochemical Industries Corporation (SPIC) Ltd has reported a consolidated net profit of Rs 62.55 crore for the April-June 2024 quarter.


The city-based company had registered a net profit of Rs 51.39 crore during the corresponding quarter last year.

For the year ending March 31, 2024, the consolidated net profits stood at Rs 113.06 crore, the company said in a BSE filing.


Total income during the quarter under review grew to Rs 756.37 crore, from Rs 571.19 crore registered during the same quarter last year.


For the year ending March 31, 2024 the total income was at Rs 1,962.16 crore.


"SPIC's first quarter results for FY25 are encouraging, reflecting an increase in both total income and PBT compared to the corresponding period of last year. The good performance underscores our relentless efforts to expand our market share and fortify our leadership position while continuously optimising costs," SPIC Chairman Ashwin Muthiah said in a release.


"Our complete transition to natural gas as a raw material is a testament to our commitment to sustainable manufacturing and a cleaner planet." he said.


"Our ongoing CSR (corporate social responsibility) initiatives continue to uplift the communities surrounding our manufacturing plants, aligning with our values of responsible corporate citizenship," he said.