Deepak Fertilisers and Petrochemicals Corporation is trading higher by 4% at Rs 110 after reporting 12% year on year (yoy) jump in net profit at Rs 45.44 crore for the second quarter ended September 2013 (Q2)on back of strong performance from chemicals segment. The company had profit of Rs 40.64 crore in the same period year ago.
The chemicals segment has recorded 30% yoy growth in profit at Rs 61 crore against Rs 46 crore in the corresponding quarter of previous fiscal.
Easing of raw material prices like ammonia contributed towards profitability of the chemicals segment, even though rupee depreciation partially neutralized the drop in ammonia prices, Deepak Fertilisers said in a statement.
Meanwhile, total income of the company during the July-September, 2013 quarter rose 43% to Rs 990 crore from Rs 691 crore in the same period last year.
The company said higher volumes in key products like Iso propyl alcohol and technical ammonium nitrate, which grew 25% and 40% respectively, contributed to the all round growth in segment revenue as well as profits.
The stock opened at Rs 107 and touched high of Rs 111 on BSE. A combined around 15,000 shares have changed hands on the counter so far on BSE and NSE.
The chemicals segment has recorded 30% yoy growth in profit at Rs 61 crore against Rs 46 crore in the corresponding quarter of previous fiscal.
Easing of raw material prices like ammonia contributed towards profitability of the chemicals segment, even though rupee depreciation partially neutralized the drop in ammonia prices, Deepak Fertilisers said in a statement.
Meanwhile, total income of the company during the July-September, 2013 quarter rose 43% to Rs 990 crore from Rs 691 crore in the same period last year.
The company said higher volumes in key products like Iso propyl alcohol and technical ammonium nitrate, which grew 25% and 40% respectively, contributed to the all round growth in segment revenue as well as profits.
The stock opened at Rs 107 and touched high of Rs 111 on BSE. A combined around 15,000 shares have changed hands on the counter so far on BSE and NSE.
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