Southern Petrochemicals Industries Corporation Ltd. (SPIC) standalone net profit for the second quarter ended September rose several fold to ₹53.64 crore.
Revenue from operations grew to ₹616 crore from ₹429 crore, it said in a regulatory filing.
Due to the increased prices of key raw materials in international markets, the Indian fertilizer industry is facing headwinds leading to a supply shortage for farmers. However, with the adequate monsoon, the government, alongside leading fertilizer manufacturers, is ensuring proper supply for the upcoming rabi season, though few regional pockets may face short supply on an intermittent basis, the company said in a statement.
Supportive government measures will help reduce the risk for manufacturers and keep the costs manageable in the near future, it added.
