Deepak Nitrite dips 9% on margins disappointment in December quarter

Shares of Deepak Nitrite dipped 9 per cent to Rs 2,150 on the BSE in Tuesday’s intra-day trade after the company reported a 500 basis points (bps) contraction in its consolidated earnings before interest tax and depreciation and amortisation (EBITDA) margins at 22 per cent in the December quarter (Q3FY22).

The company said that the operating environment was challenging, characterized by rising costs and constraints in supply of inputs. Raw material prices remained elevated together with heightened utility costs including power & fuel.