Orchid Chemicals & Pharmaceuticals, one of the leading drugmakers, reported a steep drop in standalone net profit for the fourth quarter ended March 2008, due to substantial rise operating cost. During the quarter, the profit of the company declined 34.69% to Rs 158.48 million from Rs 242.67 million in the same quarter, last year.
Net sales for the quarter surged 52.90% to Rs 3,791.94 million, while total income for the quarter jumped 52.85% to Rs 3,795.29 million, when compared with the prior year period. It reported earnings of Rs 2.41 a share during the quarter, registering 34.69% decline over prior year period.
During the quarter, the operating margin of the company decreased to 18.27% compared with 30.70% in previous year period.
For the financial year 2008, the company announced a phenomenal rise in standalone net profit. During the year, the profit of the company surged 90.97% to Rs 1,845.36 million from Rs 966.32 million in the last year.
Net sales for the year climbed 32.62% to Rs 12,389.16 million, while total income during the year rose 32.53% to Rs 12,401.58 million, when compared with the prior year. It posted earnings of Rs 28.03 a share during the year, registering 90.68% growth over last year.
During the year, the company announced a rise in operating margin of 256.27 basis points to 33.59% on lower input cost. Interest cost decreased 17.48% to Rs 811.26 million while depreciation cost rose 18.43% to Rs 976.68 million over previous year.
The board of directors has recommended a dividend of 30%, or Rs 3 a share on the equity share of Rs 10 each.
Shares of the company declined Rs 4.5, or 1.79%, to trade at Rs 246.35. The total volume of shares traded was 1,409,960 at the BSE. (3.31 p.m., Thursday)