Comments
Leading fertiliser manufacturer Southern Petrochemical Industries Corporation Ltd (SPIC) reported a net profit of ₹28 crore for the quarter ended June 30, when compared to a profit of ₹3 crore in the same quarter last year.
Total income was higher at ₹500 crore compared to ₹321 crore. During the June 2021 quarter, the company’s production and sale of urea were at 1.80 lakh tonnes and 1.78 lakh tonnes respectively.
The Covid-19 pandemic continues to heave uncertainty at the Indian economy. However, the agri-sector has seen a good comeback and demand is rising; as per government records, it was the only sector which registered growth in Q1FY22, according to a statement.
“SPIC has delivered healthy results despite the pandemic challenges. Going ahead, we hope to continue improving our performance through efficient operations. With a keen focus on sustainable production, we are committed to aiding Indian farmers with their growth and prosperity,” said Ashwin Muthiah, Chairman – SPIC & Founder Chairman, AM International, Singapore.
The company had started receiving natural gas from March 13 and had become a gas-based urea manufacturing unit.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.