Net profit of Southern Petrochemicals Industries Corporation declined 20.95% to Rs 6.79 crore in the quarter ended March 2018 as against Rs 8.59 crore during the previous quarter ended March 2017. Sales rose 30.50% to Rs 393.30 crore in the quarter ended March 2018 as against Rs 301.39 crore during the previous quarter ended March 2017.

For the full year,net profit rose 41.29% to Rs 37.23 crore in the year ended March 2018 as against Rs 26.35 crore during the previous year ended March 2017. Sales rose 33.42% to Rs 1983.17 crore in the year ended March 2018 as against Rs 1486.36 crore during the previous year ended March 2017.

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Southern Petrochemicals Industries Corporation announced that the company's plants at Tuticorin have been restarted and production resumed on 11 February 2018, after attending to routine turnaround activities, repairs to critical equipments, upgrade the DCS control system in ammonia plant and other routine shut down jobs.

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Net profit of Southern Petrochemicals Industries Corporation rose 400.86% to Rs 17.48 crore in the quarter ended December 2017 as against Rs 3.49 crore during the previous quarter ended December 2016. Sales rose 23.73% to Rs 524.89 crore in the quarter ended December 2017 as against Rs 424.23 crore during the previous quarter ended December 2016.

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The result was announced during market hours today, 8 February 2018. The stock had jumped 7.42% to Rs 39.10 ahead of the results yesterday, 7 February 2018.

Meanwhile, the S&P BSE Sensex was up 421.88 points, or 1.24% at 34,504.59. The S&P BSE Small-Cap Index was up 385.41 points, or 2.17% at 18,117.04, outperforming the Sensex.

On the BSE, 1.62 lakh shares were traded on the counter so far as against the average daily volumes of 3.61 lakh shares in the past on quarter. The stock had hit a high of Rs 40.65 and a low of Rs 39.50 so far during the day. The stock had hit a 52-week high of Rs 58 on 5 January 2018. The stock had hit a 52-week low of Rs 20.50 on 9 March 2017.

The stock had underperformed the market over the past one month till 7 February 2018, dropping 27.66% compared with 0.21% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 8.54% as against Sensex's 2.13% rise. The scrip had, however, outperformed the market in past one year, advancing 71.12% as against Sensex's 20.28% rise.

The small-cap company has equity capital of Rs 220.71 crore. Face value per share is Rs 10.

Southern Petrochemical Industries Corporation (SPIC) is a fertilizer manufacturing company located at Thoothukudi in Tamil Nadu. It is a joint venture founded by Dr M A Chidambaram and Tamil Nadu Industrial Development Corporation (TIDCO), a state-owned industrial development institution.

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