Deepak Nitrite, a leading chemical company, announced their Q2 FY24 results on 07 Nov, 2023. The company reported a decrease in revenue by 9.36% compared to the same quarter last year. However, the profit increased by 17.54% year-on-year.
In comparison to the previous quarter, Deepak Nitrite witnessed a slight growth in revenue by 0.55% and a significant increase in profit by 36.81%.
The company’s Selling, general & administrative expenses also saw a slight rise of 0.69% quarter-on-quarter and a notable increase of 8.01% year-on-year.
Deepak Nitrite’s operating income showed a significant improvement, with a growth of 53.1% quarter-on-quarter and an increase of 15.05% year-on-year.
The company’s earnings per share (EPS) for Q2 FY24 stood at ₹15.04, which is a 17.59% increase compared to the same quarter last year.
In terms of returns, Deepak Nitrite has delivered a 9.25% return in the last 1 week, a 9.33% return in the last 6 months, and a 7.86% year-to-date return.
Currently, Deepak Nitrite has a market capitalization of ₹29205.84 Cr and its 52-week high and low are ₹2372.7 and ₹1730 respectively.
According to analyst ratings as of 09 Nov, 2023, out of 15 analysts covering the company, 1 analyst has given a Strong Sell rating, 2 analysts have given a Sell rating, 4 analysts have given a Hold rating, 6 analysts have given a Buy rating, and 2 analysts have given a Strong Buy rating.
The consensus recommendation as of 09 Nov, 2023, was to Hold the stock.
| Period | Q2 FY24 | Q1 FY24 | Q-o-Q Growth | Q2 FY23 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 1778.05 | 1768.34 | +0.55% | 1961.65 | -9.36% |
| Selling/ General/ Admin Expenses Total | 84.81 | 84.23 | +0.69% | 78.52 | +8.01% |
| Depreciation/ Amortization | 39.43 | 38.08 | +3.55% | 42.4 | -7% |
| Total Operating Expense | 1515.22 | 1596.67 | -5.1% | 1733.2 | -12.58% |
| Operating Income | 262.83 | 171.67 | +53.1% | 228.45 | +15.05% |
| Net Income Before Taxes | 277.2 | 201.73 | +37.41% | 234.59 | +18.16% |
| Net Income | 205.08 | 149.9 | +36.81% | 174.47 | +17.54% |
| Diluted Normalized EPS | 15.04 | 10.99 | +36.85% | 12.79 | +17.59% |
FAQs
Question : What is the Q2 FY24 profit/Loss as per company?
Ans : ₹205.08Cr
Question : What is Q2 FY24 revenue?
Ans : ₹1778.05Cr
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Updated: 09 Nov 2023, 12:27 PM IST