After many quarters, Chennai-based Orchid Pharma turned profitable. The company has posted a consolidated net profit of ₹6.73 crore for the third quarter of the current fiscal against a consolidated net loss of ₹4.67 crore for the same quarter of the previous fiscal. In September 2022 quarter, the company’s net loss stood at ₹3.32 crore.
Consolidated revenue from operations was marginally down to ₹159.76 crore in Q3FY23 against ₹161.37 crore during the corresponding period of the previous fiscal.
Established in 1992, Orchid Pharma is involved in R&D, manufacture, marketing, and export of active pharmaceutical ingredients (APIs) and finished dosage forms (FDF) for segments like anti-infectives, anti-inflammatory, central nervous system (CNS), cardio vascular segment (CVS), nutraceuticals and other oral and sterile products. The drug-maker exports to over 40 countries. In April 2020, Gurugram-based Dhanuka Laboratories took over Orchid Pharma under a corporate insolvency resolution plan. After the restructuring process, Orchid Pharma shares were relisted on the bourses on November 3, 2020.
Shares of Orchid Pharma on Friday closed at ₹391.55 apiece on NSE, 2.02 per cent higher than previous day’s close.