Deepak Fertilisers and Petrochemicals Corporation Limited Q3 FY20 revenue was down 23% to Rs. 1,119 crore in comparison to Rs. 1,453 crore in Q3 FY19. 

Both Chemical trading and Feriliser trading was down as the focus was on high margin products. Chemical trading reduced by Rs. 203 crore whereas fertiliser trading was reduced by Rs. 125 crore. Acids revenues increased by 31% y-o-y to Rs. 126 crores in Q3 FY20. The company has also divested one of its plots of industrial land in Dahej for a total transaction of Rs. 100 crore. 

Manufactured chemical business reported revenues of Rs. 544 crore in Q3 FY20 as compared to Rs. 644 crore in Q3 FY19 whereas Manufactured fertiliser business reported revenue growth of 31% y-o-y to Rs. 404 crore in Q3 FY20. 

There was an increase in net profit from Rs. 12 crore in Q3 FY19 to Rs. 30 crore in Q3 FY20, including sale of non-core assets. 

Commenting on the performance, Sailesh C. Mehta, CMD, Deepak Ferilisers and Petrochemicals Corporation Limited said, "Aggressive cost optimisation drive, efficiency improvement measures and innovative marketing thrust have started showing results, despite external challenges. Fertiliser business reported a positive segment profit after five quarters. Consolidated operating margins expanded by about 228 basis points compared to Q3 FY19." 

"With product differentiation and innovation at the core of our business, we are committed to deliver best in class products and services to end customers. As we continue to maintain our market leadership across our key manufactured products and improve business fundamentals, we continue to strive towards attaining our business growth aspirations and maximizing shareholder value," added Mehta.