Deepak Fertilisers hits the roof after Q3 PAT jumps 103% YoY

Deepak Fertilisers & Petrochemicals Corporation was locked in an upper circuit of 5% at Rs 542.25 after the company posted a 103% jump in consolidated net profit to Rs 180.61 crore in Q3 FY22 from Rs 88.95 crore registered in Q3 FY21.

Revenue from operations increased 35.1% year on year to Rs 1,955.7 crore in Q3 FY22 from Rs 1,447.1 crore posted in the same period last year.

Consolidated profit before tax stood at Rs 267.09 crore in Q3 FY22, rising 105% from Rs 130 crore posted in Q3 FY21. The result was announced during market hours today, 28 January 2022.

Consolidated operating EBITDA stood at Rs 352 crore in Q3 FY22, rising by 62% from Rs 217 crore posted in the same period last year.

Commenting on the performance, Sailesh C. Mehta, chairman & MD of the company said, Our robust business performance reflects our deep strengths emerging out of integrated operations and diversified end user segments with continuous improvement in operating margin despite significant raw materials price increase.

He further said, Net Profits doubled owing to significant margin expansion in Chemicals Segment; whilst Fertiliser Segment faced challenges due to uncertainties around raw material availability and costs. We continued to work closely with our Mining Chemicals customers to demonstrate technical capability and value benefits. Furthermore, we are leveraging advanced technologies like Drones & AI-based blast modelling to improve productivity in the mines and infrastructure projects. Market leadership in key product segments and strong demand outlook to strengthen business growth and profitability. Furthermore, the new Ammonia Project at Taloja (Maharashtra) and the TAN Plant at Gopalpur (Odisha) are making strong progress on the ground and are on track.

Deepak Fertilisers and Petrochemicals Corporation is a manufacturer of fertilizers and chemicals.

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