Deepak Nitrite jumped 7.37% to Rs 2,038.85 after the chemical maker's consolidated net profit jumped 205% to Rs 302.6 crore on a 126% rise in net sales to Rs 1,526.22 crore in Q1 FY22 over Q1 FY21.
On a sequential basis, net profit climbed 4.1% while its net sales rose by 4.3% in Q1 FY22 over Q4 FY21. Profit before tax grew by 4% on quarter-on-quarter basis and 205% on year on year basis to Rs 405.25 crore in Q1 FY22.Shares of Deepak Nitrite hit a record high of Rs 2,053.05 in intraday today. From its 52-week low of Rs 567 hit on 12 August 2020, the counter has soared 259%. On the BSE, 2.03 lakh shares were traded in the counter so far compared with average daily volumes of 49,262 shares in the past two weeks.
Deepak Nitrite is one of the leading suppliers of chemical intermediates. It has a diversified portfolio of intermediates that cater to the dyes and pigments, agrochemical, pharmaceutical, plastics, textiles, paper and home and personal care segments in India and overseas.
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