Deepak Nitrite gains after PAT climb 35% YoY to Rs 202 crore in Q1

Deepak Nitrite rallied 3.39% to Rs 3,054.95 after the company's consolidated net profit grew 35.12% to Rs 202.54 crore in Q1 FY25 as compared with Rs 149.90 crore recorded in the same period last year.

Revenue from operation stood at Rs 2,166.84 crore in June 2024 quarter, up 22.54% from Rs 1,768.34 crore posted in June 2023 quarter.

The firm reported profit before tax of Rs 274.80 crore during the quarter ended June 2024, up 36.22% as compared with Rs 201.73 crore recorded in corresponding quarter previous fiscal.

On segmental front, the revenue from advanced intermediates was at Rs 670.20 crore (down 2.20% YoY) while revenue from phenolics stood at Rs 1,120.13 crore, (down 12.77%) during the period under review.

During the first quarter, total expenses spiked 19.54% YoY to Rs 1,910.85 crore. Cost of materials consumed stood at Rs 1,412.76 crore (up 29.65% YoY), employee benefits expense was Rs 95.33 crore (up 13.18% YoY) while finance costs stood at Rs 5.75 crore (up 217.68% YoY) during the period under review.

Deepak Nitrite produces a spectrum of chemicals, including agrochemicals, colourants, rubber, pharmaceuticals, speciality and fine chemicals. Company manufactures chemical intermediates to serve the domestic and international market with high quality products made in a responsible and sustainable manner.

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