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SPIC announces Q2FY20 results

Chennai / Mumbai: Southern Petrochemicals Industries Corporation Limited (SPIC), one of India’s pioneering agri-nutrient and fertilizer companies today announced its results for the quarter/half year  ending  September  2019.

Financials:

The company recorded revenues of INR 627.63 crore while its EBIDTA stood at 32.66 crore. In the corresponding quarter of FY19, the company had accrued revenues of INR 872.31 crore while its EBIDTA was INR 24.50crore.

(In INR Crore)

ParticularsQ2FY20Q2FY19VarianceYear Ended 31.03.19Year to Date FY20 (Q1+Q2)
Revenues627.63872.31-28.05%2591.951181.85
EBITDA32.6624.5033.31%109.8863.96
PAT *12.7011.569.86%42.1624.74
EPS0.620.578.77%2.071.22

*Includes Other Comprehensive Income

Leadership Comment Mr. Ashwin Muthiah, Chairman – SPIC Founding Chairman, AM International group, Singapore:

“The company’s performance is reflective of the sluggish macroeconomic scenario. I am confident that our performance will pick up pace during the ensuing quarters. Our management is taking concerted efforts in this direction. We are actively pursuing opportunities arising from the government’s continued push to the agriculture sector.”

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