Deepak Fertilisers Q1 Results: Net profit plunges 74% at ₹114 crore, revenue declines 23.7% YoY
₹114 crore, which is 74% down YoY. Apart from this, the firm also reported that the quarterly revenue revenue declined 23.7 percent year-on-year to ₹3,031 crores, it said in a stock regulatory filing.
The revenue was down 17.3 percent at ₹2,796 crore in the corresponding quarter of last year. “Despite facing various challenges in our Chemical and Fertiliser businesses during the Q1 FY24, we remained resilient and committed to growth," said Deepak Fertilisers And Petrochemicals Corporation Limited's Chairman & Managing Director Sailesh C.
Mehta. “We encountered adverse price fluctuations in TAN due to dumping of cheap Russian FGAN into India, as Russian products found resistance in countries sympathetic to the Ukraine cause," he said, adding, “NA sales volumes were better y-o-y although NA production impacted on account of extended shutdown, while IPA sales volumes exceeded expectations with more favourable market conditions and SGQR implementation.
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