Southern Petrochemicals posts sharp y-o-y increase in June quarter profit

11 Aug 2022 , 02:10 PM

Southern Petrochemicals Industries Corporation Ltd. (SPIC) earned an after-tax profit of Rs66.85 crore for the quarter ending in June 2022, the company announced on Thursday.

In the same quarter the year before, the city-based agri-nutrient and fertiliser firm posted PAT of Rs27.68 crore, according to a corporate release. The profit after taxes was Rs140.43 crore for the fiscal year that ended March 31, 2022.

The overall revenue for the reviewed quarter increased to Rs753.07 crore from Rs499.16 crore recorded for the comparable period in the previous year. Total revenue reached Rs1,898.31 crore for the fiscal year that ended March 31, 2022.

SPIC Chairman Ashwin Muthiah remarked, “The company’s solid performance illustrates our capacity to generate good financial outcomes under a tough macro-economic environment.” “It demonstrates the tenacity and adaptability of our business approach. We will continue to contribute to allowing India’s fertiliser self-sufficiency in light of these encouraging findings “said he.