Stock Market update: Deepak Nitrite shares down by 3% post Q3 results

Stocks of Deepak Nitrite fell by 3.85% to ₹2,243.35 per equity share against the previous close at ₹2,363.70 per share, in today’s early trade.

The shares of Deepak Nitrite were down by 3.85% at ₹2,243.35 per share against the previous close at ₹2,363.70 per share, in today’s early trade. The company reported a net profit of ₹242.46 crore for the quarter against ₹216.56 crore in the year-ago quarter.

Chemicals firm Deepak Nitrite (DNL) on Monday reported a nearly 12% increase in net profit for the quarter ending December 31, 2021, compared to the same period of the previous financial year.

The company posted a net profit of ₹242.46 crore for the quarter against ₹216.56 crore in the year-ago quarter, according to an exchange filing. Revenue from operations of the company during the quarter under review grew by 39.49% t to ₹1,722.27 crore compared to  ₹1,234.69 crore in the same period of FY21.

Deepak Nitrite Ltd. is an Indian chemical manufacturing company. Its manufacturing facilities are located at Nandesari and Dahej in Gujarat, Roha and Taloja in Maharashtra and Hyderabad in Telangana. The company produces a spectrum of chemicals, including Agrochemicals, Colourants, Rubber, Pharmaceuticals, Speciality & Fine chemicals. Deepak Mehta is the chairman of the company and his son Maulik Mehta is the CEO.

 

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