I G Petrochemicals Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2023
May 18, 2023 at 08:58 am
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I G Petrochemicals Limited reported earnings results for the fourth quarter and full year ended March 31, 2023. For the fourth quarter, the company reported sales was INR 6,049.78 million compared to INR 5,172.06 million a year ago. Revenue was INR 6,108.5 million compared to INR 5,191.26 million a year ago. Net income was INR 381.47 million compared to INR 736.23 million a year ago. Basic earnings per share from continuing operations was INR 12.39 compared to INR 23.91 a year ago.
For the full year, sales was INR 23,523.34 million compared to INR 18,827.65 million a year ago. Revenue was INR 23,742.75 million compared to INR 18,897.39 million a year ago. Net income was INR 2,000.18 million compared to INR 2,645.03 million a year ago. Basic earnings per share from continuing operations was INR 64.94.
I G Petrochemicals Limited (IGPL) is engaged in the manufacturing of phthalic anhydride, maleic anhydride, and de ethyl phthalate. The Company is engaged in the manufacture and sale of organic chemicals. It also produces benzoic acid. Phthalic Anhydride is used in manufacturing plasticizers, which are most essential in making poly vinyl chloride (PVC) products, shoe soles, cables, pipes and hoses, leather cloth, films for packaging and other products. It is also used to manufacture alkyd resins used in paints and in the production of unsaturated polyester resins for building materials, plastic products, textile industries and printing inks. Maleic Anhydride is used in the manufacturing of unsaturated polyester resin, spandex (elastics), lubricating oil additives, personal care products detergents, insecticides and fungicides and water treatment. Benzoic Acid is used in perfumes, paints, dyes, and plastics as well as the manufacture of unsaturated polyester resin.