Deepak Nitrite shares were down over 8% in early trade today after its third quarter net profit plunged over 50% at ₹98 crore against the previous year’s ₹202 crore.
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The weak performance was driven by lower sales and a significant drop in operating margin.
Its revenue fell 5.3% to ₹1,903.4 crore from last year’s ₹2,009.2 crore, reflecting softer demand in key segments.
Its EBITDA declined 44.7% to ₹168.5 crore against ₹304.6 crore in the third quarter last year, impacted by higher input costs and lower realisations.The company’s operating margin contracted to 8.9% from last year’s 15.2%, signalling cost pressures and weaker pricing power.
The stock was down 8.41% in early trade at ₹2,050.1 apiece. It was trading 7.71% lower at ₹2,065.75 per share at 9.20 am. It has fallen 27.28% in the last six months.
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