I G Petrochemicals Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
November 03, 2023 at 05:41 am EDT
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I G Petrochemicals Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 5,017.5 million compared to INR 5,691.16 million a year ago. Revenue was INR 5,090.77 million compared to INR 5,747.98 million a year ago. Net income was INR 100.75 million compared to INR 553.65 million a year ago. Basic earnings per share from continuing operations was INR 3.27 compared to INR 17.98 a year ago.
For the six months, sales was INR 10,570.37 million compared to INR 12,290.45 million a year ago. Revenue was INR 10,717.32 million compared to INR 12,388.99 million a year ago. Net income was INR 457.16 million compared to INR 1,363.79 million a year ago. Basic earnings per share from continuing operations was INR 14.84 compared to INR 44.28 a year ago.
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 
