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Ushang Sheth joins in for a check on the recent midcap hits & misses.
Orchid Chemicals and Pharmaceuticals from the pharmaceutical space has reported good set of numbers on an operational as well as on revenue parameter this quarter on year-on-year, as well as on sequential basis. The stock is likely to be on focus today.
State-owned Allahabad Bank on Tuesday (May 7 2013) announced its fourth quarter earnings. It posted a 68.5 percent decline in net profit at Rs 126.15 crore on account of rise in bad loans. However company‘s non-performing assets (NPAs) have increased by about Rs 1,600 crore.
K Raghavendra Rao, chairman and managing director, Orchid Chemicals and Pharmaceuticals is optimistic on the company's performance in the next quarter.
After not so impressive results and a fall in Q4 net profit by 75%, K Raghavendra Rao, CMD, Orchid Chemicals said that the company‘s topline and bottomline performance has been affected mainly due to the repayment of Foreign Currency Convertible Bonds (FCCB).
K Raghavendra Rao, CMD, Orchid Chemicals tells CNBC-TV18 that high interest costs and forex losses impacted the company’s earnings.
Orchid Chemicals reported its second quarter results for FY11. The drug company posted a net profit at Rs. 23.4 crore for the quarter ended September 2011 versus Rs 24 crore in the corresponding period last year.
In an interview with CNBC-TV18, Raghavendra Rao, Orchid Chemicals says, the company is guiding 25% growth in the top-line and more than proportionate growth in bottom-line for FY12. “We should touch about USD 500 million in top-line and more than proportionate growth in bottom-line,” he adds.
Speaking to CNBC-TV18, K Raghavendra Rao, MD, Orchid Chemicals 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 earlier topline guidance for FY11 and expects an additional 10% growth in revenue this year.