Business Daily from THE HINDU group of publications
Sunday, Nov 01, 2009
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Business Daily from THE HINDU group of publications Sunday, Nov 01, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate Results
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Pharmaceuticals Orchid posts lower losses in Q2 Our Bureau Chennai, Oct. 31 Orchid Chemicals and Pharmaceuticals reported a net loss of Rs 13 crore for the second quarter ended September 30, 2009. During the corresponding period in the previous year the net loss was Rs 41 crore. It has exercised the option provided under the Companies (Accounting Standards) Amendment Rules, 2006 dated March 31, 2009 in respect of AS11. The amount remaining to be amortised in the financial statements as on September 30, on account of exercising the above option is Rs 26.49 crore. If the same policy had been followed for the previous half year ended and quarter September 30, 2008, the profit after tax would have been Rs 52.8 crore and Rs 23.38 crore against the reported figures for the respective period. Net sales declined to Rs 305 crore (Rs 339 crore). Exceptional items (representing exchange losses on FCCBs) were Rs 4.6 crore (Rs 81.5 crore). Reducing debt is Orchid Chemicals’ priority Orchid settles Schering lawsuit Orchid Chem lowers loss in Q1 More Stories on : Pharmaceuticals
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