Orchid Chemicals & Pharmaceuticals Ltd has reported a loss of Rs 51 crore during the quarter ended June 30, 2012 as compared to profit of Rs 15.54 crore, a year ago. The company's total income dropped to Rs 357.23 crore from Rs 384 crore, a drop of around 6%.
K Raghavendra Rao, Chairman & Managing Director, Orchid Chemicals & Pharmaceuticals Ltd, said first quarter higher input costs coupled with lower price realisations in key products impacted the overall performance during the quarter.
"The additional interest burden on account of the External Commercial Borrowing (ECB) availed for the FCCB redemption has contributed to a higher interest outflow, adding to the negative bottom line. Our immediate focus in on consolidating our operations, optimising the product mix in key high-value markets, leveraging on the robust non-antibiotic product pipeline and de-leveraging our debt position. We foresee a flat year on the whole with pressure on profitability as we progress on this consolidation journey,” he said.
