Orchid Chemical has announced its results for the quarter ended December 2010. The company reported net sales of Rs 427 crore on net profit of Rs 52.5 crore during the quarter as against net sales of Rs 308.8 on a net loss of Rs 17 crore in the same period last year. Exceptional gains in the December quarter stood at Rs 3.8 crore versus a net loss of Rs 4.6 crore.
Speaking to CNBC-TV18, K Raghavendra Rao, MD, Orchid Chemicals said that the quarter gone by had exceeded all internal expectations. The chief contributors of the growth, he said, were attributable to Tazo Pip and Penems, which he said gave significant boost to earnings. Hospira, he said, contributed 22% to nine-month revenues. He expects to end FY11 with margins of 24% and also sees strong double digit growth in the next fiscal i.e. FY12. The company also sees a revision in the earlier topline guidance for FY11 and expects an additional 10% growth in revenue this year. Rao said the company has now increased elbow room due to repayment of debt. He further said that the company expects a significant improvement in its debt-equity ratio in FY12. Below is a verbatim transcript of his interview on CNBC-TV18. Also watch the accompanying video. Q: You have done quite a bit already of your full year guidance in the 9 months; Rs 14 EPS, Rs 98 crore profits, shouldnDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
