New Delhi: Southern Petrochemical Industries Corporation (SPIC) Ltd, a company specializing in agri-nutrients and fertilizers, announced a combined net income of Rs 62.55 crore for the quarter spanning April to June 2024. Last year during the same quarter, the company based in the city reported a net profit of Rs 51.39 crore.
As per a filing on BSE, the company reported consolidated net profits of Rs 113.06 crore for the fiscal year ending on March 31, 2024. Income in the current quarter increased to Rs 756.37 crore from Rs 571.19 crore in the previous year's corresponding quarter. The total revenue for the fiscal year ending on March 31, 2024 amounted to Rs 1,962.16 crore.
SPIC's performance in the first quarter of FY25 is positive, showing growth in both total income and PBT in comparison to the same period last year. SPIC Chairman Ashwin Muthiah stated in a release that the strong performance highlights our ongoing efforts to increase market share, strengthen leadership, and consistently improve cost efficiency. He stated that our full switch to natural gas as a raw material shows our dedication to sustainable manufacturing and a healthier planet. He stated that our CSR efforts are still improving the nearby communities of our factories, in line with our beliefs of being a responsible corporate citizen.
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