Orchid Chemicals and Pharmaceuticals has suffered a setback during the first quarter ended June 2011 and its consolidated net profit declined by 28.1 per cent to Rs.16.92 crore from Rs.23.53 crore in the corresponding period of last year. However, its consolidated turnover increased by 23.2 per cent to Rs.449.23 crore from Rs.364.57 crore. Its EBDITA stood at Rs.88.94 crore compared to Rs.82.43 crore.


K Raghavendra Rao, chairman and managing director, said, “Our performance continues on a strong trajectory and we are confident of scaling further heights in the quarters to come. We have entered into long-term contractual agreements with large MNCs including Hospira for supply of our niche APIs and formulations which have augured well. Given the less-competitive landscape for most of our products, we are confident of a strong growth going forward.”


In the API space, Orchid's cumulative filings of its US DMFs stood at 83 and cumulative filings of COS for the European market stood at 21. Its cumulative ANDA filings stands at 43 and Marketing Authorizations in EU stand at 25. The company received final approval for 21 ANDAs as at the end of June 2011.