Specialty chemicals maker Deepak Nitrite continued to experience losses as brokerages maintained a bearish perspective on the company.
On May 20, Deepak Nitrite reported an 8.5 percent year-on-year rise in net profit, reaching ₹253.85 crore for the March quarter of the financial year 2023-24. This included a ₹51.6 crore gain from extraordinary items. However, excluding this exceptional gain, which came from insurance claims, the net profit actually fell by 14 percent year-on-year for the quarter.
As of 2 pm, Deepak Nitrite shares were trading at ₹2,340 on the NSE, marking a five percent drop from the previous close. Over the past two sessions, the shares have declined by more than seven percent.
