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Deepak Fertilizers and Petrochemicals’ net profit jumps 223% y-o-y in Q1FY23; stock spurts ~5%

DFPCL’s Operating EBITDA Margins increased from 15.2% in Q1FY22 to 24.3% in Q1FY23.

August 01, 2022 1:18 IST | India Infoline News Service
Deepak Fertilisers and Petrochemicals Corporation Limited, among India’s leading producers of industrial chemicals and fertilizers, announced its results for the quarter ending June 30, 2022.

The company reported a 59% yoy jump in consolidated revenue in Q1FY23 at Rs3,031 crore as compared to Rs1,902 crore in the previous corresponding quarter.

It reported a consolidated operating EBITDA of Rs740 crore during the quarter under review, up by 155% yoy against Rs290 crore in the previous corresponding quarter.

Company’s consolidated net profit for Q1FY23 stood at Rs436 crore, clocking a growth of 233% on a y-o-y basis, against Rs131 crore in the quarter ended June 2021.

DFPCL’s Operating EBITDA Margins increased from 15.2% in Q1FY22 to 24.3% in Q1FY23.

Further, its Chemicals Segment contributed about 87% of total segment profits. Chemicals revenues doubled to Rs1,771 crore and margins increased from 19% in Q1FY22 to 41% in Q1FY23.

Fertilizers segment revenues witnessed a surge of 26% y-o-y to Rs1,256 crore, although segment margins were impacted owing to a sharp escalation in raw material prices.

Company’s Acids business achieved capacity utilization of 91% and IPA business of 58% in Q1FY23.

At around 1.21 PM, Deepak Fertilizers was trading at Rs745.10 up by Rs35.45 or 5% from its previous closing of Rs709.65 on the BSE. The scrip touched intraday high and low of Rs745.10 and Rs745.10 respectively.

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