Mumbai, Aug 13 Chemical intermediary manufacturer Deepak Nitrite Limited on Wednesday reported a sharp drop in its earnings for the first quarter of the financial year ending June 30 (Q1 FY26).
The chemical manufacturer’s net profit fell 44.6 per cent year-on-year (YoY) to Rs 112 crore, compared to Rs 202.5 crore in the same period previous fiscal (Q1 FY25), according to its stock exchange filing.
The company’s revenue also declined, slipping 12.8 per cent to Rs 1,889.8 crore from Rs 2,166.8 crore in the year-ago quarter.
Total expenses for the quarter under review stood at Rs 1,759.7 crore, compared to Rs 1,910.85 crore in the year-ago period.
Among the biggest contributors to the company’s expenses were the cost of materials consumed at Rs 1,331.09 crore, other expenses at Rs 119.5 crore, power and fuel expenses at Rs 113.66 crore, and employee benefits expenses at Rs 106.45 crore.
Operating performance took a hit as well, with EBITDA falling 38.8 per cent to Rs 189.3 crore from Rs 309.4 crore previous financial year.
The EBITDA margin shrank to 10 per cent from 14.3 per cent in the same quarter of the previous fiscal.
The results were announced after market hours on Wednesday. Earlier in the day, Deepak Nitrite’s shares closed at Rs 1,873.50 apiece on the Bombay Stock Exchange (BSE), up Rs 10.20 or 0.55 per cent.
Headquartered in Gujarat's Vadodara, Deepak Nitrite is a leading Indian chemical intermediary manufacturer with a wide product range, including basic chemicals, fine and speciality chemicals, and performance products.
The company operates manufacturing facilities in Gujarat, Maharashtra, and Telangana, and supplies to both domestic and global markets.
Its wholly-owned subsidiary, Deepak Phenolics Limited, focuses on producing phenol and acetone.
Deepak Nitrite’s products are used across industries such as agrochemicals, pharmaceuticals, rubber, paper, and detergents.
The company is also known for its "Responsible Chemistry" approach, sustainable manufacturing practices, and growing global footprint, exporting to nearly 30 countries across six continents.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor