Deepak Nitrite surges 12% on strong operational performance in Q3

Deepak Nitrite shares rallied 12 per cent intra-day on Monday and scaled a new high of Rs 1,240 on the BSE after the chemical intermediates company delivered a strong operational performance with consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) growing 25 per cent year on year (YoY) at Rs 340 crore in the December quarter.

The consolidated Ebitda margin expanded by 330 basis points (bps) to 27.4 per cent. The margin accretion has been driven by the increased volumes and higher efficiency in plant operations of the phenolics business supported by better sourcing, logistics and marketing for