SPIC clocks Rs 42.50 cr Q4 profit

Southern Petrochemical Industries Corporation Ltd (SPIC) has reported a jump in its profit after tax for the quarter ending March 31, 2021 at Rs 42.50 crore, the city-based company, said on Thursday.

The agri-nutrient and fertiliser company had registered a profit after tax at Rs 28.53 crore during corresponding quarter previous year.

For the year ending March 31, 2021 profit after tax stood at Rs 51.85 crore as against Rs 56.94 crore registered last fiscal.

Total income for the quarter under review was at Rs 372.27 crore as against Rs 521.55 crore reported during the same period last year.

For the year ending March 31, 2021 total income of the company slipped to Rs 1,555.59 crore from Rs 2,089.65 crore registered last year.

''India's agricultural sector has been at the forefront of the economic recovery from the COVID-19 lockdown.

SPIC's performance even during such tough times showcases the company's resilient business model.. the team's ability to continue operations despite various pandemic challenges is commendable'', SPIC Chairman Ashwin Muthiah said.

''Going ahead, we will focus on the safety and health of our employees, vendor partners and customers alongside running our operations smoothly,'' he added.