Deepak Nitrite has surged 8% to Rs 352, extending its 6.5% rally in past two trading sessions on BSE, after reporting a strong operational performance for the third quarter ended December 31, 2013 (Q3FY14).
The stock opened at Rs 330 and touched a record high of Rs 355 on the BSE. A combined around 11,000 shares have changed hands on the counter so far on the BSE and NSE.
The company’s EBITDA or operating profit for Q3FY14 of Rs 31 crore is higher by 74% compared to EBITDA of Rs 18 crore in Q3FY13.
The impact of Dahej facility which is currently operating at sub-optimal utilisation is only temporary and the established business has delivered improved operating performance. EBITDA contribution from the established products has delivered sustained growth during the quarter, Deepak Nitrite said in a press release.
Net profit of the company increased 51.7% year-on-year (yoy) to Rs 11.34 crore against Rs 7.48 crore in the corresponding quarter of previous fiscal. Net sales grew 7.3% at Rs 338 crore on yoy basis.
Going forward, the company expects to ramp up the FWA (fluorescent and whitening Agents) business to optimum utilizations levels over the next 3 years at which time it will meaningfully contribute to both revenues and profitability.
The stock opened at Rs 330 and touched a record high of Rs 355 on the BSE. A combined around 11,000 shares have changed hands on the counter so far on the BSE and NSE.
The company’s EBITDA or operating profit for Q3FY14 of Rs 31 crore is higher by 74% compared to EBITDA of Rs 18 crore in Q3FY13.
The impact of Dahej facility which is currently operating at sub-optimal utilisation is only temporary and the established business has delivered improved operating performance. EBITDA contribution from the established products has delivered sustained growth during the quarter, Deepak Nitrite said in a press release.
Net profit of the company increased 51.7% year-on-year (yoy) to Rs 11.34 crore against Rs 7.48 crore in the corresponding quarter of previous fiscal. Net sales grew 7.3% at Rs 338 crore on yoy basis.
Going forward, the company expects to ramp up the FWA (fluorescent and whitening Agents) business to optimum utilizations levels over the next 3 years at which time it will meaningfully contribute to both revenues and profitability.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%