• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• Smartbuy
• Books
• Gallery

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Chennai, June 29 Orchid Chemicals and Pharmaceuticals has reported a net loss of Rs 52 crore for 2008-09, compared with a net profit of Rs 184 crore for the previous year.

This was due to losses on account of exchange fluctuations, mark-to-market on derivative instruments and rebates and discounts.

The board of directors has recommended a dividend of Rs 1 a share. Interest charges nearly doubled to Rs 155 crore from Rs 81 crore previously.

The loss would have been higher but for the fact that Orchid exercised the option provided in respect of Accounting Standards 11, as a result of which it avoided a further charge of Rs 84 crore on the bottomline.

Turnover slid to Rs 115 crore from Rs 119 crore previously.

“The fiscal 2008-09 witnessed a plateau in the US Generics business of Orchid partly attributed to the overall recession in the US economy with the distributors and trade channels at large being cautious with orders,” says a press release from the company.

More Stories on : Financial Performance | Pharmaceuticals | Forex

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2009, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line