SPIC's Profit Surges by 74% in September Quarter

Southern Petrochemical Industries Corporation (SPIC) reported a remarkable 74% increase in consolidated net profit for the September quarter, reaching Rs 61.22 crore. The chemical and fertilizer firm's revenue from operations rose by nearly 8% to Rs 817.29 crore, driven by strong operational performance and a focus on profitable growth.

Southern Petrochemical Industries Corporation (SPIC) has announced a significant 74% boost in its consolidated net profit, totaling Rs 61.22 crore for the September quarter. The impressive growth is attributed to strong operational performance, as revealed in the company's recent stock exchange filing.

In comparison, the chemical and fertilizers manufacturer reported Rs 35.17 crore in net profit during the same period last fiscal year, marking a substantial improvement. The company's total income for the July-September period increased to Rs 842.82 crore, up by 11% from the previous year's Rs 761.22 crore.

Chairman Ashwin Muthiah highlighted the company's ongoing commitment to serving the Indian farmer community and maintaining operational efficiency. For the first half of the current fiscal year, SPIC's consolidated net profit stood at Rs 127.92 crore, representing a 31% increase over the previous year.

(With inputs from agencies.)