Orchid Chemicals and Pharmaceuticals (Orchid Pharma) has reported a lower turnover of Rs. 490.78 crore (standalone) in the fourth quarter ended March 31, 2012, against Rs. 509.25 crore in the same period in the previous year.

Sharp decline in PAT

The net profit, after tax, has declined sharply to Rs. 20.55 crore from Rs. 61.29 crore in the year-ago period.

The turnover for the year ended March 31, 2012, stood at Rs. 1,701.71 crore against Rs. 1,668.28 crore and the net profit after tax at Rs. 103.11 crore against Rs. 159.48 crore. The directors have recommended a dividend of Rs. 3 per share.

K. Raghavendra Rao, Chairman and Managing Director, said “despite a few setbacks during the year like the API plant closure, higher interest costs, the weakening rupee which impacted the FCCB (foreign currency convertible bonds) redemption and the fire accident at the R&D centre, it is satisfying that we are on a growth path and are confident of delivering value going forward.”