Deepak Fertilisers Q2 net profit dips 77 pc to Rs 63.45 cr

Deepak Fertilisers and Petrochemicals Corporation on Thursday registered a 77 per cent drop in consolidated net profit at Rs 63.45 crore for the second quarter of the 2023-24 fiscal, due to lower income.

The company had clocked a net profit of Rs 275.59 crore in the same quarter previous fiscal, according to a regulatory filing.

Total income declined on a consolidated basis by 11 per cent to Rs 2,424.16 crore during July-September quarter of the 2023-24 financial year, from Rs 2,719.32 crore in the year-ago period.

Expenses remained close to last year's level at Rs 2,326.38 crore during Q2 of this year.

The company's revenue from the chemical segment declined to Rs 1,170.28 crore during the Q2 of this year, from Rs 1,532.87 crore in the year-ago period.

However, the revenue from the fertiliser segment rose marginally to Rs 1,248.83 crore, from Rs 1,180.76 crore in the said period, the filing added.

Deepak Fertilisers has about 11 subsidiary companies.