Industrial chemicals manufacturer and suppliers Deepak Fertilisers, a player in methanol, nitric acid, ammonium nitrate and micronutrient fertilisers, announced its financial results and posted a decline in its net profit to Rs 53.9 crore for the quarter ending September, 2011 as compared to Rs 63.94 crore for quarter ended June, 2011 thereby showing a dip by 15.7 per cent.
The company recorded its revenues at Rs 577.19 crore for the September quarter of 2011 showing a rise of 21.8 per cent from Rs 473.87 crore in the earlier quarter of the same year. "Our volume growth over the next 6-8 quarters is expected to be strong as we will replace inferior quality imports,” said Sailesh Mehta, MD, Deepak Fertilisers.
