Deepak Nitrite Q3 PAT up 11.96% at Rs242.46cr on EBIT growth in phenolics and performance products

26 Jan 2022 , 05:46 PM

Deepak Nitrite Ltd reported 39.49% growth yoy in total revenues for the Dec-21 quarter on consolidated basis at Rs1,722.27cr. On a sequential basis, the revenues were higher for the quarter by 2.43%.

During the quarter, the company saw higher sales revenues from the basic intermediates, performance products and the phenolics business. However, the sales from the fine and specialty chemicals were lower on a yoy basis.

The company has approved raising Rs.2,000 crore via the issue of equity shares to qualified institutional buyers.

The consolidated Profit after tax (PAT) for the Dec-21 quarter was up 11.96% at Rs242.46cr on higher revenues offset by higher input costs. However, on a sequential basis, the net profits were down -4.67% due to a spike in the price of inputs and supply chain constraints.

The sharp fall in EBIT for the quarter was seen in the fine and specialty chemicals business while the other segments were flat to moderately higher. Net margins tapered from 17.54% in the Dec-20 quarter to 14.08% in the Dec-21 quarter.

However, net margins were also lower sequentially by 105 bps, due to the sharp spike in key input costs.

Financial highlights for Dec-21 compared yoy and sequentially

	Deepak Nitrite
Rs in Crore	Dec-21	Dec-20	YOY	Sep-21	QOQ
Total Income (Rs cr)	₹ 1,722.27	₹ 1,234.69	39.49%	₹ 1,681.35	2.43%
Net Profit (Rs cr)	₹ 242.46	₹ 216.56	11.96%	₹ 254.34	-4.67%
Diluted EPS (Rs)	₹ 17.78	₹ 15.88		₹ 18.65
Net Margins	14.08%	17.54%		15.13%