By IANS
Chennai : The city based bulk drug major Orchid Chemicals and Pharmaceuticals Ltd. has posted a turnover of Rs.3.32 billion for the quarter ended Dec 31, 2007 as against Rs.2.38 billion earned the corresponding period of the previous fiscal.
The earnings before interest and tax (EBIT) stood at Rs.748 million compared to Rs.542 million during the corresponding quarter of last year representing a growth of 37.9 percent. Profit before tax stood at Rs.617 million as compared to Rs.312 million
For the period under review the net profit stood at Rs.541 million in comparison to Rs. 283 million of the corresponding quarter of last fiscal.
“The third quarter has emerged as one of our strongest quarters in terms of revenue and profitability. Our niche product basket in the US market comprising Cefepime, Cefoxitin and Cefazolin injections and Cefdinir oral products continued to accelerate our earnings positively,” said K. Raghavendra Rao, managing director.
“With further product launches lined up in the US and EU markets, we are positive on continued strong performance in the fourth quarter and beyond.”
For the nine months Orchid Chemical has posted a turnover of Rs.8.66 billion up from Rs.6.86 billion logged during the corresponding period of the previous year.
The earning before interest and tax (EBIT) stood at Rs.1.99 billion against Rs.1.54 billion registered during the corresponding period of the previous year, representing a growth of 29.6 percent.
The after tax profit for the period under review rose by 133.11 percent and stood at Rs.1.68 billion to Rs.723.7 million registered during the same period of the last fiscal.