Chennai, Nov 01: The net profit of Orchid Chemicals and Pharmaceuticals Ltd rose by 153 per cent to touch Rs 7.3 crore in the quarter ended September 30 this fiscal as against Rs 2.89 crore in the same quarter the previous fiscal. The turnover and operating income during the quarter touched Rs 161.83 crore as against Rs 111.33 crore in the same period last fiscal, registering an increase of 45 per cent, a company release said here.
"The superior performance in Q2 of the current fiscal has primarily been due to the company's strategic shift to regulated markets and value added product mix", K Raghavendra Rao, Managing Director of the company, said.
He said the first phase of the company's manufacturing Joint Venture (JV) in China had already been commissioned and such initiatives will help it post robust top line and bottom line performance during the rest of the current fiscal. Bureau Report