Orchid Chemicals net down to Rs 9.51 cr; turnover at 346.45 cr

Chennai: The city-based cephalosporin bulk drug major Orchid Chemicals and Pharmaceuticals has posted a net profit of Rs 9.51 crore for the nine months ended December 2002 on a turnover of Rs 346.45 crore.

Compared to the previous year's nine-month figures, the company's bottomline has thinned by Rs 91 lakh, while the turnover went up by Rs 68 crore.

For the period under review, the bulk drug sales accounted for Rs 318.94 crore while formulations contributed Rs 41.54 crore. The formulations business, for the first time, has shown a profit of Rs 2.55 crore.

The total expenditure was up by Rs 66.9 crore to Rs 276.70 crore. Similarly the company's interest outgo also went up by Rs 3 crore to Rs 28.04 crore compared to the corresponding period of the previous year.

For the third quarter October-December 2002, the company's turnover went up by Rs 32.57 crore to Rs 128.28 crore as compared to the corresponding period of the previous year. The net profit for the third quarter shows an increase of Rs 1.46 crore to Rs 3.71 crore as compared to the previous year's figures.