SPIC net profit at Rs 53.64 crore in Q2 of FY22

During the current quarter of FY22, the company registered an income of Rs 616.90 cr compared to an income of Rs 432.89 crores during the corresponding quarter of the previous FY 21. The revenue from operations at Rs 615.50 cr was about 43.35% more than the corresponding quarter of FY 21 at Rs 429.36 cr.

Due to the increased prices of key raw materials in international markets, the Indian fertiliser industry is facing headwinds leading to a supply shortage for farmers. However, with the adequate monsoon, the government, alongside leading fertiliser manufacturers, is ensuring proper supply for the upcoming rabi season, though few regional pockets may face short supply on an intermittent basis.

Ashwin Muthiah, Chairman, SPIC & Founder Chairman, AM International, Singapore, said “the robust quarterly performance signifies SPIC’s continuous focus on supporting the farmer community, duly aligned with the government’s fertiliser policy. A healthy topline and a significant improvement in the bottom line is due to the company’s ability to serve market demand despite pandemic impediments.”