Deepak Nitrite Ltd, an Indian chemicals manufacturer announced its results for the third quarter and nine months ended Dec 31, 2022.
Q3 Results- QoQ
The financials for Q3 of FY2023 show an increase in both Total Income and Net Profit when compared to Q2 of the same fiscal year.
Revenue increased by 1.5% from 19.73 billion to Rs 20.04 billion, while the Net Profit saw a significant increase of 19.8%, rising from 1.74 billion to Rs 2.09 billion.
Q3 Results- YoY
The financials for Q3 of FY2023 show an increase in sales revenue when compared to Q3 of the previous fiscal year. Sales Revenue increased by 14.6% from Rs 17.48 billion to Rs 20.04 billion.
On the other hand, net profit saw a decrease of 13.8%, falling from Rs 2.42 billion to Rs 2.09 billion.
This decrease in net profit could be due to various factors such as increased expenses, currency etc
9 Months – YoY
The financials for the 9 months ended in FY2023 show an increase in sales revenue when compared to the same period in the previous fiscal year.
Sales revenue increased by 21.6% from Rs 49.69 billion to Rs 60.46 billion.
On the other hand, net profit saw a decrease of 22.7%, falling from Rs 7.99 billion to Rs 6.18 billion.
This decrease in net profit could be due to various factors such as increased expenses, currency etc.
Deepak Nitrite Ltd is an Indian chemicals manufacturing company engaged in the manufacture and sale of chemical intermediates that cater to the dyes and pigments, agrochemical, pharmaceutical, plastics, textiles, paper and home and personal care segments in India and overseas.