CHENNAI: Southern Petrochemical Industries Corporation Ltd (SPIC) registered an income of Rs 519.47 crore, and net profit of Rs 46.53 crore during the current quarter of FY24, compared to an income of Rs 707.81 crore, and net profit of Rs 85.18 crore in the corresponding quarter of the previous FY23.
The revenue from operations at Rs 506.40 crore was about 27 per cent less than the corresponding quarter of FY23 at Rs 698.62 crore.
Ashwin Muthiah, chairman, SPIC, and founder chairman, AM International, Singapore, said, “The results show a dip due to global raw material price increases and the recent natural calamity. The devastating cyclone and subsequent plant damage in Thoothukudi led to a complete stoppage of work for a few weeks; however, the plant has restarted.”