Southern Petrochemical Industries Corporation clocks Q1 PAT at Rs 27.68 cr

Southern Petrochemical Industries Corporation clocks Q1 PAT at Rs 27.68 cr

PTIUpdated: Friday, August 13, 2021, 03:22 PM IST
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The profit after tax during the corresponding quarter of previous year stood at Rs 2.78 crore, SPIC Ltd, an agri-nutrient and fertiliser company, said. /Representational image | File Photo

Southern Petrochemical Industries Corporation Ltd (SPIC) has clocked a profit after tax (PAT) for the quarter ending June 30, 2021 at Rs 27.68 crore, the company said on Friday.

The profit after tax during the corresponding quarter of previous year stood at Rs 2.78 crore, SPIC Ltd, an agri-nutrient and fertiliser company, said in a statement here. Total income for the quarter under review grew to Rs 499.16 crore from Rs 320.62 crore registered same quarter last fiscal.

On the impact of COVID-19 pandemic, the company said the outbreak continues to have an uncertainty on the economy. The agricultural sector has seen as a good comeback and demand was good and as per the government records it was the only sector which registered growth in Q1 FY-2021-22.

On the financial performance, SPIC Chairman Ashwin Muthiah said, "SPIC has delivered healthy results despite the pandemic challenges. I wish to thank the central and state governments for their due support to the fertilizer industry". "Going ahead, we hope to continue improving our performance through efficient operations...," he added.

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