Southern Petrochemical Industries Corporation (SPIC), an agri-input and fertilizer company, reported a significant decline in its profit for the December quarter, with a 45.37% drop to Rs 46 crore from Rs 85 crore in the same period last year. The earnings per share for the quarter stood at Rs 1.53, down from Rs 4.04 in the corresponding period last year. The company’s income for the quarter was Rs 520 crore, marking a 20% decline compared to Rs 707 crore in the previous year. SPIC highlighted challenges, including raw material and price volatility in global fertilizer markets, and emphasized the move towards natural gas usage to rationalize input costs.
SPIC’s Q3 Profit Drops by 45.37% to Rs 46 Crore; Revenue Falls 27%
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