{"id":18141,"date":"2020-02-13T18:43:50","date_gmt":"2020-02-13T18:43:50","guid":{"rendered":"http:\/\/faceinews.com\/?p=18141"},"modified":"2020-02-13T18:43:50","modified_gmt":"2020-02-13T18:43:50","slug":"spic-announces-q3fy20-results","status":"publish","type":"post","link":"https:\/\/www.faceinews.com\/?p=18141","title":{"rendered":"SPIC announces Q3FY20 results"},"content":{"rendered":"

SPIC announces Q3FY20 results<\/strong><\/p>\n

Company registers revenues of INR 383.69crore and PAT of INR 4.83crore<\/strong><\/p>\n

\u00a0\"Faceinews<\/a><\/strong><\/p>\n

13th<\/sup>February 2020, Chennai \/ Mumbai:<\/strong>\u00a0Southern Petrochemical Industries Corporation Limited (SPIC), one of India\u2019s pioneers and leading agri-nutrient and fertilizer companies today announced its results for the quarter ending December 2019.<\/p>\n

\n

Financials:<\/strong><\/p>\n

The Company recorded revenues of INR 383.69crore while its profit after tax(PAT) was
\nINR4.83crore. In the corresponding quarter of FY19, the Company accrued revenues of INR 689.15crore while its PAT was INR 21.09crore.<\/p>\n

\n

(In INR Crore)<\/strong><\/p>\n\n\n\n\n\n\n
Particulars<\/strong><\/td>\nQ3FY20<\/strong><\/td>\nQ3FY19<\/strong><\/td>\nYear Ended 31.03.19<\/strong><\/td>\nYear to Date FY20 (Q1+Q2+Q3)<\/strong><\/td>\n<\/tr>\n
Revenues<\/strong><\/td>\n383.69<\/td>\n689.15<\/td>\n2613.41<\/td>\n1568.10<\/td>\n<\/tr>\n
PAT<\/strong><\/td>\n4.83<\/td>\n21.09<\/td>\n53.34<\/td>\n28.41<\/td>\n<\/tr>\n
EPS (INR)<\/strong><\/td>\n0.14<\/td>\n0.99<\/td>\n2.07<\/td>\n1.36<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\n

The variance in performance is attributed to the refurbishment of the Company\u2019s urea plantduring which the operations were affected. The plant was functional for 57 days during the previous quarter. It commenced operations from 3rd<\/sup>\u00a0November 2019 onwards after the completion of the planned plant maintenance. In the previous year\u2019s corresponding quarter, the plant was operational for 89 days.<\/p>\n

\n

Company highlights:<\/strong><\/p>\n

During the last few months, SPIC has received multiple awards from industry bodies. These include:<\/p>\n

    \n
  • Star Award at the Occupational Health, Safety and Environment Awards 2018 from the National Safety Council (Tamil Nadu Chapter) in appreciation of the Company\u2019s commitment to safety, health and environment.<\/li>\n<\/ul>\n

    \n

      \n
    • Recognition as a Top Importer of the Custom House at Tuticorin for FY 2018-19on the occasion of the International Customs Day, 2020.<\/li>\n<\/ul>\n

      \n

        \n
      • Award for Excellence as Business Support Partner in Traffic Performance 2018-19 by the V.O Chidambaranar Port Trust, Tuticorin.<\/li>\n<\/ul>\n

        \n

          \n
        • Industrial Appreciation Award for the year 2017-18 by the Indian Chamber of Commerce & Industry, Thoothukudi.<\/li>\n<\/ul>\n

          \n

          \u00a0<\/strong><\/p>\n

          Leadership Comment<\/strong>:<\/p>\n

          Mr. AshwinMuthiah, Chairman \u2013 SPIC<\/strong>&Founding Chairman, AM International, Singapore<\/strong>:<\/p>\n

          \n

          \u201cThe refurbishment of the urea plant was a part of the management\u2019s efforts to increase the competitiveness of the business. These will pave the foundation for greater efficiency and productivity of operations. I am confident that SPIC\u2019s financial performance will pick up following the refurbishment.<\/p>\n

          \n

          Also, I congratulate the team on the multiple recognitions received from various industry bodies during the last few months. These are reflective of our sustained efforts to create value for the entire stakeholder ecosystem whilst remaining committed to safety.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

          SPIC announces Q3FY20 results Company registers revenues of INR 383.69crore and PAT of INR 4.83crore \u00a0 13thFebruary 2020, Chennai \/ Mumbai:\u00a0Southern Petrochemical Industries Corporation Limited (SPIC), one of India\u2019s pioneers and leading agri-nutrient and fertilizer companies today announced its results for the quarter ending December 2019. Financials: The Company recorded revenues of INR 383.69crore while […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32,30],"tags":[],"class_list":["post-18141","post","type-post","status-publish","format-standard","hentry","category-business","category-finance"],"_links":{"self":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/18141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18141"}],"version-history":[{"count":1,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/18141\/revisions"}],"predecessor-version":[{"id":18142,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/18141\/revisions\/18142"}],"wp:attachment":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}