Deepak Nitrite share price nosedives 15% as Q3 profit falls 51% to ₹99 crore

The stock plunged 14.93% to ₹1,9104 apiece on the National Stock Exchange (NSE) at 2:25 am.

The market capitalisation stands at ₹25,969.24 crore.

On the BSE (formerly Bombay Stock Exchange), shares were trading 14.92% lower at ₹1,903 per unit.

Deepak Nitrite Q3 results

Deepak Nitrite reported a 51.45% decline in its consolidated net profit to ₹98.09 apiece in the quarter ended December 2024. In the year-ago period, the post-tax profit was ₹202.05 crore.

Revenue from operations stood at ₹1,903.4 crore in the quarter under review, reflecting a decline of 5.26% from ₹2,009.23 crore a year back.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) descended 44.7% to ₹168.5 crore in Q3 FY25, compared to ₹304.6 crore in the December quarter of the previous fiscal.

The total income declined 4.86% to ₹1,924.39 crore in the third quarter of the current fiscal as against ₹2,022.78 crore in the year-ago quarter.

Deepak Nitrite manufactures chemical intermediates for industries like paints, agrochemicals, and pharmaceuticals.

NIFTY, SENSEX trade in red

Meanwhile, equity benchmark indices NIFTY and SENSEX are trading in the negative territory on Friday.

Sensex fell 181 points to 75957 at 10:38 am. The NIFTY shed 0.33% to 22,956.

In the NIFTY50 space, Adani Enterprises, Adani Ports, Bharat Electronics, UltraTech Cement and Sun Pharma were among the biggest laggards.

Nestle India, Hindustan Unilever, Tata Consumer Products, Britannia and ITC were among the biggest gainers.

According to exchange data, Foreign Institutional Investors or FIIs sold equities worth ₹2,789.91 crore on Thursday.

In Asian markets, Hong Kong, Seoul and Shanghai traded in green while Tokyo quoted lower. US markets settled higher on Thursday.