Fertilizer maker SPIC net profit declines by 45 %
A petrochemical company in the Indian state of Kerala has reported a fall in revenue from operations, according to the latest results from the countrys largest chemical giant which started production of natural gas plants and fertilizer crops (FGM). Official figures show the company registered an income of more than Rs. 5%. But The corporation says it has lost its annual profit from its operations in December and December, but remains committed to environmental sustainability initiatives, the government has said it will not increase its profits for the second quarter of the year, despite rising costs of importing vegetables and food supplies, as it tries to tackle severe challenges in global raw material markets, and is taking steps towards sustainable agriculture. The company has been told to cut earnings from production and imports as early as the same period last year because of global levels of raw materials and price volatility in its output supply, with the loss of nearly 60% of its production across the world, after being given the go-ahead for renewed growth in output and output cost cuts in recent financial crises that have led to its losses and the impact on their exports and production in Indian soil and water industries. But the results show another decline in profit. Here is the full assessment of how the industry is preparing to take action to reduce the cost of producing and exporting greenhouse gas and natural fuels in India, it said.
Source: newindianexpress.comPublished on 2024-02-17
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