Companies

SPIC posts ₹42 cr net in Q4 FY21

Our Bureau Chennai | Updated on July 09, 2021

Company recorded a net profit of ₹51.85 crores as compared to ₹56.94 crore in FY20

Southern Petrochemical Industries Corporation Ltd has reported a 49 per cent rise in its net profit at ₹42.50 crore despite a fall in income for the quarter ended March 31, 2021 against ₹28.53 crore in the year-ago quarter.

Revenue from operations was lower by 32 per cent at ₹350.72 crore (₹515.10 crore). Operating profit stood at ₹37.27 crore (₹28.57 crore), according to a statement.

Annual performance

For the year ended March 31, 2021, the Company recorded a net profit of ₹51.85 crores as compared to ₹56.94 crore in FY20.

Its operating profit was ₹46.62 crore (₹56.98 crore). It earned total income of ₹1,555.59 crores (₹2,089.65 crore).

“SPIC’s performance even during such tough times showcases the company’s resilient business model with a focus on customer needs, efficient manufacturing and profitability.

The team’s ability to continue operations despite various pandemic challenges is commendable,” said Ashwin Muthiah, Chairman – SPIC & Founder Chairman, AM International, Singapore.

Published on June 30, 2021

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