Deepak Nitrite Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
February 07, 2023 at 08:33 am EST
Share
Deepak Nitrite Limited reported earnings results for the third quarter and nine months ended December 31, 2022. For the third quarter, the company reported sales was INR 19,910.6 million compared to INR 17,222.7 million a year ago. Revenue was INR 20,044.2 million compared to INR 17,480.2 million a year ago. Net income was INR 2,090.5 million compared to INR 2,424.6 million a year ago. Basic earnings per share from continuing operations was INR 15.33 compared to INR 17.78 a year ago.
For the nine months, sales was INR 60,107 million compared to INR 49,298.4 million a year ago. Revenue was INR 60,457.1 million compared to INR 49,689.1 million a year ago. Net income was INR 6,181.4 million compared to INR 7,994.3 million a year ago. Basic earnings per share from continuing operations was INR 45.32 compared to INR 58.61 a year ago.
Deepak Nitrite Limited is an India-based company, which is engaged in manufacturing and trading of chemicals. The Company operates through two segments: Advanced Intermediates and Phenolics. Its Advanced Intermediates segment offers sodium nitrite, sodium nitrate, nitro toluidines, fuel additives, nitrosyl sulphuric acid, xylidines, oximes, cumidines, specialty agrochemicals, optical brightening agent (OBA), diamino stilbene disulfonic acid (DASDA). Its Phenolics segment offers cumene, phenol, acetone, isopropyl alcohol, ammonium sulfate (AMS). The Company's products cater to several industries, such as colorants, rubber chemicals, explosives, dyes, pigments, food colors, pharmaceuticals, diesel blending, agrochemicals, glass, personal care, paper, detergents and textiles, laminates, ply, adhesive, paints, auto, pharmaceuticals, plastics, and others. The Company's manufacturing facilities are located at Nandesari, Dahej (Gujarat), Roha, Taloja (Maharashtra) and Hyderabad (Telangana).