Southern Petrochemical Industries Corporation (SPIC) delivered a sharp jump in profitability for the quarter ended March 2026, even as revenues declined year-on-year, driven by stronger operational performance and gains from equity-accounted investees.

 

The company posted a consolidated net profit of Rs. 29.49 crore, up 51.5% from Rs. 19.47 crore in the same quarter last year. Profit before tax surged 53.7% to Rs. 45.98 crore, compared with Rs. 29.91 crore a year earlier, underscoring improved margins despite a softer topline environment.

 

Revenue from operations came in at Rs. 584.15 crore, down from Rs. 754.37 crore in the year-ago period. Total income for the quarter stood at Rs. 595.73 crore, while profit from operations before share of profit from equity-accounted investees and tax was Rs. 41.82 crore.

 

On a standalone basis, SPIC reported a net profit of Rs. 26.15 crore, nearly doubling from Rs. 13.09 crore a year earlier. Standalone profit before tax also more than doubled to Rs. 41.82 crore from Rs. 20.64 crore, even as standalone revenue mirrored the consolidated decline at Rs. 584.15 crore versus Rs. 754.37 crore last year.

 

For FY26, SPIC’s consolidated net profit rose 35.9% to Rs. 211.48 crore from Rs. 155.62 crore in the previous year, while revenue from operations stood at Rs. 2,955.97 crore. Standalone net profit climbed to Rs. 186.16 crore from Rs. 130.84 crore, with revenue unchanged at Rs. 2,955.97 crore.

 

Operationally, the urea plant ran for 73 days during the quarter, down from 90 days a year ago. Urea production stood at 1.48 lakh metric tonnes, with sales of 1.43 lakh metric tonnes. For the full year, production reached 7.21 lakh MT and sales stood at 7.14 lakh MT.

 

Subsidy income remained a major support, with the company booking Rs. 450.33 crore for the quarter and Rs. 2,426.91 crore for the year under Government of India fertilizer policy norms.