Deepak Nitrite Ltd has announced consolidated financial result for Q4 and FY 2024.  

Deepak Nitrite Ltd has reported an 8.5 per cent increase in its net profit at Rs. 253.85 crore for the quarter ended March 31, 2024 as compared to Rs. 233.86 crore during the corresponding quarter last fiscal.

Total income during the Q4 FY24 was Rs 2,145.34 crore as compared to Rs. 1,973. 93 crore in the same period the previous year.

For the Financial Year ended March 31, 2024, Deepak Nitrite has posted net profit of Rs. 810.89 crore as compared to Rs. 852 crore in the Financial Year ended March 31, 2023. Total income in FY 2024 stood at Rs. 7,757.93 crore as compared to Rs. 8,019.64 crore during the Financial Year ended March 31, 2023.

Meanwhile, the Board considered and approved to acquire 100 per cent shareholding of OXOC Chemicals Limited for Rs 1 lakh having 10,000 equity shares with face value of Rs 10 each.

The Board of Directors have recommended dividend of Rs. 7.5 per equity share of face value of Rs. 2 / - each for the year ended March 31, 2024 on 13,63,93,041 equity shares amounting to Rs. 102.29 crores.

Wjth respect to fire incident at company's one of the manufacturing sites located at Nandesari, Gujarat in June 2022 which resulted damage to certain property, plant and equipment & inventory, the company had recognized toss of Rs. 47.20 crore as an exceptional item and had recognized insurance claim receivable of Rs. 47.20 crore against the same.