Deepak Fertilisers and Petrochemicals Corporation has reported that its net profit in the June quarter was up more than two-fold to ₹436 crore against ₹131 crore logged in the same period last year on higher realisation.

Revenue from operations increased to ₹3,031 crore ( ₹1,902 crore). Expenses jumped to ₹2,393 crore (₹1,718 crore) as prices of key raw material such as ammonia (up 106 per cent), phos acid (92 per cent), Refined grade propylene (35 per cent) and gas (91 per cent).

Operating Ebitda margin increased from 15 per cent in Q1 FY’22 to 24 per cent.

The company enhanced Technical Ammonium Nitrate capacity by about 33,000 tonne and Nitro-phosphorus-Potassium (NPK) capacity by about 2,00,000 tonne through process improvement of the existing plants at Taloja in the outskirts of Mumbai.

Shailesh C Mehta, Managing Director, Deepak Fertilisers and Petrochemicals said the strong demand outlook for key products coupled with differentiated product portfolio should support business growth and profitability in the long term.

Long-term growth is expected to be underpinned by change in product mix, head room availability of additional capacities emerging from better operational management and debottlenecking along with greenfield expansions, he added.

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