Spic net loss at Rs 41 crore

BS 200 SCORECARD

Southern Petrochemical Industries Corporation (Spic) registered a net loss of Rs 40.86 crore in the first quarter of the current finanacial year, a reduction of 19.88 per cent over the net loss of Rs 51 crore seen in the corresponding period of the previous year.

The company's sales during the first quarter was Rs 456.72 crore, higher by 38.14 per cent over the previous year's sales of Rs 330.60 crore.

The company's notes to accounts indicated that credit has been taken for an increase on account of input cost escalation, which is expected to be announced by the central government.

Urea production during the quarter grew over the earlier year by 32 per cent to stand at 1.79 lakh metric tonee (1.36 lakh metric tonne).