Deepak Nitrite Q3 revenue up by 17%

Chemical production and services provider Deepak Nitrite Ltd announced its results for the third quarter for the financial year 2012 with revenue figures at Rs 209 crore denoting a rise of 17 per cent when compared to the earlier quarter for the same year at Rs 179 crore.

The company reported its profit after tax at Rs 4.61 crore for the same period showing an increase of 63 per cent as compared to Rs 2.81 crore of the second quarter of the fiscal 2012.

The company said its plans for a greenfield expansion at Dahej in Gujarat and a brownfield expansion in its production capacity for inorganic intermediates at its Nandesari facility are on schedule and on course for completion before end of September 2012.

“We are glad to report continued business momentum driven by firmer volumes as well as improved realisations. On a year-on-year basis, our product lines of fuel additives and agro intermediates continue to show strong growth," said Deepak C Mehta, vice-chairman and managing director, Deepak Nitrite Ltd.