SPIC posts Rs 49 cr loss in Q1

Southern Petrochemical Industries Corporation, which had shutdown its urea plant since March 2013, has reported a net loss of Rs 48.95 crore on an income of Rs 3.12 crore for the first quarter ended June 30, 2013. During the corresponding quarter in the previous year, the company reported a net loss of Rs 44 crore on an income of Rs 639 crore). The urea plant has been restarted on July 16. The plant was closed previously due to water shortage.