Deepak Fertilisers gains on purchasing natural gas from GSPC

Deepak Fertilisers & Petrochemicals Corporation surged 4.98% to Rs 661.45 after the company said it signed a supply proposal for purchasing natural gas from Gujrat State Petroleum Corporation (GSPC) for three years effective from 1 May 2023.

It is a Brent Index linked contract for supply of 16.44 mn MMBTU of natural gas (NG) over three year period.

By the tie-up with GSPC for Brent-linked Gas, the company has now reached a threshold of crystalized tie-ups for around 40% of gas needs for the group's upcoming Ammonia project.

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

Deepak Fertilisers & Petrochemicals Corporation's consolidated net profit surged 195.3% to Rs 275.59 crore and revenue from operations jumped 51.7% to Rs 2719.32 crore in Q2 FY23 over Q2 FY22.

 

The company's board will consider Q3 results on 2 February 2023.

Powered by Capital Market - Live News