Deepak Nitrite Ltd.'s profit declined in the first quarter, missing analysts' estimates.
The company's net profit fell 36.10 % year-on-year to Rs 149.9 crore, according to an exchange filing on Thursday. This compares with a Bloomberg estimate of Rs 258.5 crore.
Deepak Nitrite Q1 FY24 Highlights (Consolidated, YoY)
Revenue down 14.07% at Rs 1,768.34 crore (Bloomberg estimate: Rs 1,896.63 crore).
Ebitda declines 41.07% to Rs 209.75 crore (Bloomberg estimate: Rs 316.55 crore).
Margin at 11.86% versus 17.29%.
Net profit down 36.10% at Rs 149.9 crore (Bloomberg estimate: Rs 258.5 crore).
Shares of Deepak Nitrite rose 0.39% to Rs 2,021 apiece, as compared with a fall of 0.74% in the benchmark NSE Nifty 50 on Thursday.
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