By: ICN Bureau
Last updated : November 12, 2022 10:11 am
The company's drive from commodity to specialty continues to support premium margins and brand consolidation in the mining chemicals, pharma chemicals and crop nutrition businesses
Industrial chemicals and fertilisers manufacturer Deepak Fertilisers and Petrochemicals Corporation (DFPCL) Q2 FY 2022-23 net profit jumped nearly three fold to Rs. 276 crore whereas revenue was up by 51%.
The company's net profit stood at Rs. 93 crore during the corresponding quarter of the previous fiscal whereas operating revenue of the company grew by 51.7% to Rs. 2,719 crore during the quarter under review, compared to Rs. 1,793 crore in the same period a year-ago.
"We are happy to share that the second quarter and H1 results have validated despite huge raw material price hikes, our pass through remains healthy. Our strong alignment with the India growth story provides positive tailwinds to demand growth for our products. Our drive from commodity to specialty continues to support premium margins and brand consolidation in the mining chemicals, pharma chemicals and crop nutrition businesses," said Shailesh C. Mehta, Chairman and Managing Director, DFPCL.
The Asian Development Bank (ADB) association has been an acknowledgement of the efforts and impact the company has been making with providing specialty and crop-specific performance fertilisers, he said.
"Our drive for fast-track project execution for the Ammonia and TAN (mining chemicals) projects continues in full swing," added Mehta.