SPIC Q3 Profit: Rs 54.59 cr, Focus on Cost Efficiency & Agri-Nutrients

Chennai, Feb 7 (PTI) Southern Petrochemical Industries Corporation (SPIC) Ltd registered a profit before tax of Rs 54.59 crore for the October-December 2024 quarter, the company said on Friday.

The city-based agri-nutrient and fertiliser company had recorded a profit before tax of Rs 46.53 crore during the corresponding quarter of the previous year.

The profit before tax for the nine-month period ending December 31, 2024, stood at Rs 182.02 crore, according to a press release issued here.

Commenting on the financial performance, SPIC Chairman Ashwin Muthiah said, "In Q3FY25, we achieved significant revenue growth and improved profitability compared to the same period last year. This performance reflects our focus on cost and operational efficiencies, savings from transitioning to natural gas as a raw material, and customer-centric marketing efforts."

The total income for the quarter under review rose to Rs 823.23 crore from Rs 519.47 crore in the year-ago period.

For the nine months ending December 31, 2024, the total income stood at Rs 2,340.82 crore.

"India continues to present growth opportunities as an agri-economy, and we remain committed to supporting the 'One Bharat One Fertiliser' scheme and our farmers with research-driven agri-nutrient solutions," Muthiah added.