Consolidated profit before tax stood at Rs 422.02 crore in Q2 FY23, rising 212.9% from Rs 134.89 crore posted in Q2 FY22. Total expenses rose 39.3% year on year to Rs 2,324.37 crore while cost of raw materials consumed increased by 35.51% year on year to Rs 1,733.23 crore in the quarter ended 30 September 2022.

Consolidated operating EBITDA grew 133.3% to Rs 495 crore in Q2 FY23 from Rs 212 crore posted in the same period last year. EBITDA margin improved to 18.2% in Q2 FY23 as against 11.8% in Q2 FY22.

On segmental front, revenue from Chemicals segment jumped 52.2% YoY to Rs 1,532.87 crore and Fertilizers segment's revenue rose 47.3% YoY to Rs 1,180.76 crore in the quarter ended 30 September 2022.

Commenting on the performance, Sailesh C. Mehta, chairman & managing director said, “Despite huge RM prices hikes, our pass through remains healthy. Our strong alignment with India growth story provides positive tailwinds to demand growth for our products. Our drive from Commodity to Speciality continues to support premium margins and brand consolidation in the mining chemicals, pharma chemicals and crop nutrition businesses.”

“The unique ADB association has been a very satisfying acknowledgement of the efforts and impact we have been making with providing speciality and crop-specific performance fertilisers and our intense work at the farmer level. Our drive for fast-track project execution for the Ammonia and TAN projects continues full swing,” he added.

Deepak Fertilisers and Petrochemicals Corporation is a manufacturer of fertilizers and chemicals.

The scrip declined 3.38% to currently trade at Rs 884.80 on the BSE.