Date:21/01/2005 URL: http://www.thehindubusinessline.com/2005/01/21/stories/2005012102400204.htm

Back Orchid Chemicals and Pharma posts lower net profit in Q3

Our Bureau

CHENNAI: Orchid Chemicals and Pharmaceuticals Ltd has reported a lower post-tax profit of Rs 5.76 crore in the third quarter of the current year compared with Rs 8.40 crore in the corresponding quarter of last year, mainly because of deferred tax liability. The company incurred a deferred tax liability of Rs 2.61 crore, against a deferred tax asset of Rs 1.31 crore previously.

The company's pre-tax profit has indeed increased — to Rs 8.75 crore against Rs 7.52 crore previously. This has come despite a flat turnover. `Income from operations' was at Rs 172.25 crore compared with Rs 172.86 crore in the third quarter of last year.

However, in the first nine months of the current year, Orchid Chemicals made a net profit of Rs 14.41 crore, nearly 40 per cent lower than its achievement of Rs 23.27 crore in the first three quarters of last year.

Turnover for the period was down to Rs 509.89 crore from Rs 511.76 crore previously. Interest charges increased to Rs 53.72 crore during the nine-month period from Rs 44.11 crore previously. Depreciation was also higher at Rs 46.35 crore against Rs 40.53 crore.