Deepak Fertilisers Q2 net jumps nearly 3-fold to Rs 276 cr

Industrial chemicals and fertilizers manufacturer Deepak Fertilisers and Petrochemicals Corporation (DFPCL) on Thursday said its net profit has jumped nearly threefold to Rs 276 crore in the second quarter that ended September 30, 2022.

The company's net profit stood at Rs 93 crore during the corresponding quarter of the previous fiscal, DFPCL said in a statement.

The operating revenue of the company grew by 51.7 percent to Rs 2,719 crore during the quarter under review, compared to Rs 1,793 crore in the same period a year ago.

''We are happy to share that the second quarter and H1 results have validated that despite huge raw material price hikes, our pass-through remains healthy. Our strong alignment with the India growth story provides positive tailwinds to demand growth for our products.

''Our drive from commodity to specialty continues to support premium margins and brand consolidation in the mining chemicals, pharma chemicals and crop nutrition businesses,'' DFPCL Chairman and Managing Director Sailesh C Mehta said.

The Asian Development Bank (ADB) association has acknowledgment the efforts and impact the company has been making with providing specialty and crop-specific performance fertilizers, he said.

''Our drive for fast-track project execution for the Ammonia and TAN (mining chemicals) projects continues in full swing," he added.