Southern Petrochemicals reports Q1 PAT at Rs 66.85 cr, total income grows

Southern Petrochemicals Industries Corporation Ltd (SPIC) has reported profit after tax for the April-June 2023 quarter at Rs 66.85 crore, the company said on Thursday.

The city-based agri-nutrient and fertiliser company had reported PAT at Rs 27.68 crore during corresponding quarter previous year, a company statement said.

For the year ending March 31, 2022 the profit after tax stood at Rs 140.43 crore.

The total income during the quarter under review grew to Rs 753.07 crore from Rs 499.16 crore registered during the same period last year.

For the year ending March 31, 2022 total income stood at Rs 1,898.31 crore.

"The company's robust performance demonstrates our ability to deliver good financial results amid a challenging macro-economic environment," SPIC Chairman Ashwin Muthiah said.

"It is proof of the resilience and agility of our business model. On the strength of these positive results, we will continue to play our part in enabling India's self-sufficiency in fertiliser production," he said.