Orchid Chemicals Q1 net profit more than triples to Rs.51.29 Crores

Orchid Chemicals & Pharmaceuticals Ltd has announced the Un-Audited financial results for the quarter ended June 30, 2007.

The Company has posted a net profit of Rs 512.980 million for the quarter ended June 30, 2007 as compared to Rs 145.907 million for the quarter ended June 30, 2006. Total Income has increased from Rs 2024.911 million for the quarter ended June 30, 2006 to Rs 2913.591 million for the quarter ended June 30, 2007.

The Consolidated results are as follows: The Group has posted a net profit of Rs 485.894 million for the quarter ended June 30, 2007 as compared to Rs 108.323 million for the quarter ended June 30, 2006. Total Income has increased from Rs 2133.989 million for the quarter ended June 30, 2006 to Rs 3046.315 million for the quarter ended June 30, 2007.

The company has reported an Earnings Per Share (EPS) of Rs.7.79 during Quarter ended June 30, 2007 compared to Rs.2.22 during Quarter ended June 30, 2006.

Exchange gain on outstanding Foreign Currency Convertible Bonds (FCCBs)for the Quarter is Rs 528.618 million. There is an additional current and deferred tax provision of Rs 190.892 million on account of the above exchange gain and the net impact on the profit after tax is Rs 337.726 million.

The stock was trading at Rs.244.70, up by Rs.5.65 or 2.36%. The stock hit an intraday high of Rs.249 and low of Rs.240. The total traded quantity was 235779 compared to 2 week average of 53131.

Source : Equity Bulls

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