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 EDT
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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 and maleic anhydride. The Company is engaged in the manufacture and sale of organic chemicals. It also produces benzoic acid and diethyl phthalate (DEP). Phthalic Anhydride is used in poly vinyl chloride (PVC) products, pipes and hoses, boxes, container, and shoes, wires, and cables; alkyd resins and paints, such as paints, lacquers, dyes insect repellents, and urethane polyester polyols, and unsaturated polyester resin, such as thermostat for manufacturing of fiberglass-reinforced plastics. Benzoic Acid is used in perfumes, dyes, topical medications, insect repellants, and food preservatives. Maleic Anhydride is used in the manufacturing of lubricating oil additives, personal care products, water treatment, detergents, insecticides and fungicides, and unsaturated polyester resins (UPR). It produces maleic anhydride through wash water generated out of the production process.
I G PETROCHEMICALS LIMITED 
