Deepak Nitrite Ltd, a speciality chemicals manufacturer, stated on May 20 that net profit increased by 8.5 % year on year to Rs 253.85 crore in the quarter ended March 2023.
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With revenue growing by 8.4% to Rs 2,126 crore from Rs 1,961 crore in the quarter ended March 2022. The board of directors has also proposed a dividend of Rs 7.5 per equity share for the fiscal year ending March 31, 2024, subject to shareholder approval, to the board of directors.
Additionally, the Board also approved the acquisition of 100 per cent shareholding in OXOC Chemicals Limited for Rs 1 lakh, comprising 10,000 equity shares with a face value of Rs 10 each.
