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

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.