Orchid Chemicals & Pharmaceuticals registered a turnover of Rs 406.70 crore for the quarter ended June 30, 2012 (Q1 FY13) in comparison to Rs 449.23 crore registered during the corresponding first quarter of last fiscal. Earnings before Interest, Depreciation and Tax (EBIDTA) stood at Rs 54.11 crore during Q1 FY13 compared to Rs 90.69 crore registered during the corresponding quarter of last fiscal. At the net level, the company registered a loss of Rs 54.02 crore compared to a profit of Rs 16.92 crore for the Q1 of last fiscal.
Our performance during the first quarter of this financial year witnessed a slump both in our sales and profitability. Higher input costs coupled with lower price realisations in key products impacted the overall performance during the quarter. The additional interest burden on account of the External Commercial Borrowing (ECB) availed for the FCCB redemption has contributed to a higher interest outflow, adding to the negative bottom line. Our immediate focus in on consolidating our operations, optimising the product mix in key high-value markets, leveraging on the robust non-antibiotic product pipeline and de-leveraging our debt position. We foresee a flat year on the whole with pressure on profitability as we progress on this consolidation journey,” said K Raghavendra Rao, Chairman and MD, Orchid Chemicals & Pharmaceuticals.
EP News Bureau
- Advertisement -
