Deepak Nitrite's Q4FY16 standalone net profit rises 35% yoy to Rs.20.56 crore : Beats Estimates

The company’s standalone revenue stood at Rs. 340.75 crore, up 2.49% yoy and 6.93% qoq.

May 09, 2016 6:47 IST | India Infoline News Service
Deepak Nitrite, leading producer and supplier of Organic, Inorganic and Fine Chemicals, reported standalone net profit of Rs. 20.56 crore for the quarter ended March 31, 2016, registering growth of 35% yoy and 24.98% qoq. The company’s revenue stood at Rs. 340.75 crore, up 2.49% yoy and 6.93% qoq.

Its standalone core operating profit of Rs. 46.62 crore for the quarter, clocked growth of 24.84% yoy and 13.01% qoq. Operating profit margin for the current quarter at 13.68% expanded by 245 bps yoy and 73 bps qoq.

For the year ended March 31, 2016, the company reported standalone net profit of Rs. 65.15 crore, growing by 21.91% yoy. Its standalone revenue for the period stood at Rs. 1,335.72 crore, registering growth of 0.64% yoy.

Deepak Nitrite's core operating profit stood at Rs. 166.67 crore, recording growth of 41.11% yoy. Operating margin for the current period at 12.72% expanded by 382 bps yoy.

Result Highlights: (Rs. in crore)

Reported Results IIFL Estimates Variance (%)
Standalone Revenue 340.75 346.86 [1.76]
Standalone Net Profit 20.56 18 14.22

Standalone EPS for the quarter stood at Rs. 1.78.

Stock Commentary:

Deepak Nitrite Ltd is currently trading at Rs. 72.15, up by 1.1 points or 1.55% from its previous closing of Rs. 71.05 on the BSE.

The scrip opened at Rs. 75.1 and has touched a high and low of Rs. 75.5 and Rs. 71.4 respectively. So far 327274(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 826.23 crore.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 79.9 on 23-Dec-2015 and a 52 week low of Rs. 54.5 on 08-Sep-2015. Last one week high and low of the scrip stood at Rs. 73 and Rs. 68.75 respectively.

The promoters holding in the company stood at 51.79 % while Institutions and Non-Institutions held 13.16 % and 35.05 % respectively.

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