Deepak Fertilizers & Petrochemicals Corp Reports Mixed Financial Results for Q1 2024
Deepak Fertilizers & Petrochemicals Corp, a midcap company in the fertilizer industry, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.
According to the financial report, Deepak Fertilizers & Petrochemicals Corp has seen a negative performance in the quarter, with a score of -12. However, this is an improvement from the previous quarter's score of -30. The company's profit after tax (PAT) for the quarter was Rs 214.79 crore, showing a growth of 78.0% compared to the average PAT of the previous four quarters. This indicates a positive trend in the near term for the company's PAT.
Similarly, the profit before tax (PBT) for the quarter was Rs 224.08 crore, showing a growth of 33.7% compared to the average PBT of the previous four quarters. However, the company's interest cost has increased by 73.42% over the preceding nine months period, indicating increased borrowings. Additionally, the net sales for the quarter have fallen by -11.1% compared to the average net sales of the previous four quarters, showing a very negative trend in the near term.
On a positive note, the company's non-operating income for the quarter was the highest in the last five quarters at Rs 72.28 crore. However, this increase in income from non-business activities may not be sustainable.
Overall, Deepak Fertilizers & Petrochemicals Corp has shown mixed financial results for the quarter ending March 2024. Investors should carefully consider these factors before making any investment decisions.
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