SPIC Ltd Achieves Rs 62.55 Crore Net Profit in Q1 FY25

Southern Petrochemical Industries Corporation (SPIC) Ltd reported a consolidated net profit of Rs 62.55 crore for Q1 FY25. This marks a significant growth from Rs 51.39 crore last year. The company’s total income also surged to Rs 756.37 crore compared to Rs 571.19 crore in the same period last year.

Southern Petrochemical Industries Corporation (SPIC) Ltd has announced a consolidated net profit of Rs 62.55 crore for the April-June 2024 quarter.

In comparison, the company had netted Rs 51.39 crore during the same quarter of the previous fiscal year.

For the fiscal year ending March 31, 2024, consolidated net profits stood at Rs 113.06 crore. The company's total income for the quarter increased to Rs 756.37 crore, rising from Rs 571.19 crore registered during the corresponding period last year.

The total income for the entire fiscal year 2024 reached Rs 1,962.16 crore.

''SPIC's first-quarter results for FY25 are encouraging, reflecting an increase in both total income and PBT compared to the corresponding period last year. The good performance underscores our relentless efforts to expand market share and fortify leadership while continuously optimising costs,'' stated SPIC Chairman Ashwin Muthiah in a release.

''Our transition to natural gas as a raw material reaffirms our dedication to sustainable manufacturing and a cleaner planet,'' he added.

''Our ongoing CSR initiatives continue to uplift the communities surrounding our manufacturing plants, aligning with our values of responsible corporate citizenship,'' Muthiah noted.

(With inputs from agencies.)