Deepak Fertilisers and Petrochemicals Company on Friday reported a 415% year-on-year soar in internet proft to Rs 116 crore for the March 2021 quarter. Consolidated revenues grew by 21.8% y-o-y to Rs 1,575 crore within the quarter. Revenues from the chemical enterprise elevated by 15% to Rs 870 crore with margins going as much as 27% within the quarter.
International specialty chemical worth chains have been transferring from China to India, boosting nitric acid demand and costs in India, the corporate mentioned.
Revenues within the fertiliser phase rose by 32% to Rs 702 crore. Nevertheless, an increase in key uncooked materials costs affected margins through the quarter within the fertiliser phase. Ammonia costs rise by 11.8% rise whereas phosphoric acid costs went up by 18.3%, the corporate mentioned.
Sailesh C Mehta, chairman and MD, mentioned key investments made during the last 4 years have began delivering. The corporate’s strategic initiatives to remodel from a commodity to specialty place held super promise for the longer term, he mentioned.
Going ahead there may be head room obtainable in capacities to offer for good progress upside, Mehta added.