Mid Cap Chemical Company Declares 12% Rise In Net Profit, Rs 7.50/Share Dividend

Mid cap company operating in chemical sector, Deepak Nitrite Ltd on Thursday declared 12.5% year-on-year (YoY) rally in net profit to Rs 233.9 crore for the fourth quarter ended March 31, 2023 as against Rs 267.2 crore announced in the corresponding quarter last year. The board of directors of the company recommended a dividend of Rs 7.50 per equity share for the year ended March 31, 2023. Check details below:

Deepak Nitrite Q4 Results: The EBITDA at the operating level witnessed a dip of 15.2% to Rs 348 crore in the fourth quarter of this fiscal as against Rs 410.3 crore declared in the corresponding period in the last fiscal. The company declared the total revenue at Rs 1961.4 crore, up 4.8% in the March quarter as against Rs 1872.4 crore reported in the corresponding quarter of previous fiscal, according to the BSE filing.

Deepak Nitrite Declares Dividend: According to the BSE filing of Deepak Nitrite, "Board of Directors of the Company, at their Meeting hetd today i.e. 1 1th May, 2023, have recommended, for approval by the shareholders, a dividend of Rs 7.50/- (Rupees seven and fifty paisa only), being 375%, per equity share for the year ended March 31, 2023 on 13,63,93,041 equity shares of the face value of Rs 2/- (Rupees Two Only) each."

Deepak Nitrite Stock Performance & Return: Last trading price of Deepak Nitrite is Rs 1926.55 per share with intraday fall of 1.66%. The stock's 52-week high price is Rs 2355.55 per share and 52-week low price is Rs 1682.15 per share, respectively. The company has a market capitalisation of Rs 26,276.80 crore.

The stock rallied 8% in last 3-months, fell 2% in last 1-year, gave 7% return in last 2-years, and 272% return in last 3-years. Shares jumped 653% in last 5-years.