Orchid Pharma registers turnover of Rs 322 crore in Q3 FY13
Financial highlights for Quarter ended December 31, 2012 (Q3 FY13)
Earnings on consolidated basis
Revenue of Rs 322 crore (US$ 58.5 mn) in Q3 FY13 versus Rs 496.8 crore (US$ 90.3 million) in Q3 FY12
EBITDA of Rs 21.6 crore (US$ 3.9 mn) in Q3 FY13 versus Rs 129.0 crore (US$ 23.5 million) in Q3 FY12
Loss before Tax of Rs 88.7 crore (US$ 16.1 mn) in Q3 FY13 compared to a profit before tax of Rs 41.1 crore (US$ 7.5 mn) during Q3 FY12
At the net level, the company registered a loss (after exceptional item loss of Rs 5.6 crore) of Rs 74.7 crore (US$ 13.6 mn) in Q3 FY13 compared to a loss of Rs 11.06 crore (US$ 2.0 million) during Q3 FY12
“The overall performance of the company continues to witness pressure due to the tight working capital levels and debt leverage. We are working on completing the transfer of our Penicillin & Carbapenem business to Hospira and will see a significantly deleveraged position from the deal proceeds leading to improved performance in the quarters to come”, said K Raghavendra Rao, Chairman & Managing Director, Orchid Chemicals & Pharmaceuticals Ltd.
India Infoline Research Team / 15:28, Mar 13, 2015
Markets are now reinforcing the perception of an early interest rate hike by US Federal Reserve, with consensus calling for the hike taking place in June, when compared with the prior expectations of a hike in September.