Chemical manufacturing company Deepak Nitrite Ltd on Tuesday (November 7) reported a 17.5% year-on-year (YoY) rise in net profit at ₹205.1 crore for the second quarter that ended September 30, 2023.

In the corresponding quarter last year, Deepak Nitrite posted a net profit of ₹174.5 crore, the company said in a regulatory filing. The company's revenue from operations declined 9.4% to ₹1,778.1 crore against ₹1,961.7 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA jumped 11.6% to ₹302.3 crore in the second quarter of this fiscal over ₹270.9 crore in the corresponding period in the previous fiscal.

The EBITDA margin stood at 17% in the reporting quarter compared to 13.8% in the year-ago period. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The results came after the close of the market hours. Shares of Deepak Nitrite Ltd ended at ₹2,102.25, down by ₹36.60, or 1.71%, on the BSE.

(Edited by : Shoma Bhattacharjee)