Deepak Nitrite soars 8% on stellar March quarter earnings

The stock is trading close to its all-time high of Rs 305 touched on September 27, 2018.

Shares of Deepak Nitrite soared 8 per cent intra-day Monday to Rs 296 apiece, after the company reported robust 179 per cent growth in standalone net profit at Rs 56.6 crore in March quarter (Q4FY19). It had a profit of Rs 20.3 crore in year-ago quarter.

Revenue from operations rose 23.6 per cent during Q4FY19 at Rs 486 crore against Rs 393 crore in the corresponding quarter of the previous fiscal.

"The Q4 performance is testament to the strategic choices of products identified for capacity expansion at the start of the fiscal. Apt assessment of market demand enabled