Deepak Nitrite Limited’s shares gained nearly 2% after the company released its financial results for the quarter ending September 30, 2024. The report showed revenue growth but a slight dip in net profit, indicating a resilient performance in a challenging environment.
Key Financial Highlights (YoY and QoQ):
- Revenue from Operations:
- YoY: Revenue increased by 14.3% to ₹2,032 crore, compared to ₹1,778.03 crore in the same quarter last year.
- QoQ: Revenue declined by 6.2% from ₹2,166.84 crore in the preceding quarter.
- Net Profit:
- YoY: Net profit decreased by 5.3% to ₹194.2 crore from ₹205.08 crore in Q2 FY24.
- QoQ: Net profit dropped by 4.1% from ₹202.53 crore in the previous quarter.
As of 9:42 AM, Deepak Nitrite shares were trading 1.625% higher at ₹2,534.00 on the NSE. The positive market reaction suggests investor confidence in the company’s growth potential despite a dip in profitability, as Deepak Nitrite continues to expand its revenue base in the chemicals sector.
