More than half of Deepak Nitrite's revenue comes from the Phenolics business.
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The company's net profit declined over 30 percent from last year. Revenue increased 17 percent but the growth was capped due to the underperformance of the company's Phenolics business.
The company's earnings per share decreased to Rs 12.79 in the September quarter from Rs 18.65 in the September 2021 quarter.
Among other specific business segments, the Advanced Intermediates segment posted revenue of Rs 685 crore compared to Rs 544 crore last year. EBIT for this segment remained flat.
Shares of Deepak Nitrite are trading 9.5 percent lower on high volumes at Rs 2,080. The stock is down 18 percent so far this year.