Deepak Fertilisers and Petrochemicals Corporation Ltd reported a strong growth in its second quarter sales and profits despite the COVID-19 pandemic.  

 

The company's revenue grew by 20% YoY and stood at Rs 1,418.47 crore from Rs 1,181.47 crore in Q1 FY20.

 

Consolidated net profit stood at Rs. 79.33 crore which rose by 218%, as compared to Rs. 24.94 crore in the same quarter last year. The company however saw a sharp dip in profits when compared with Q1 FY21 as it saw a huge rise of 1032.15% amounting to Rs. 121.44 crores in Q1 FY21.

 

The net profit margin in Q2 FY21 came in at Rs. 8.51 which rose 200% YoY. 

 

Recently, the rights issue of Deepak Fertilisers And Petrochemicals Corporation got oversubscribed. The issue price was fixed at Rs. 133/- per fully paid-up equity share which included a premium of Rs. 123/- per fully paid-up equity share over the face value of Rs. 10 per equity share.