 "Orchid Pharma Ltd sees net loss narrowing to Rs 13.44 crore in Q4")
BS Reporter
Chennai, 3 June
Orchid Pharma Ltd has seen its net loss narrowing to Rs 13.44 crore during the quarter ended March 31, 2019, as compared to a net loss of Rs 92.37 crore during the same period last year. The total income grew to Rs 166.55 crore as compared to Rs 157.20 crore during the corresponding quarter of the previous fiscal.
The company has been under Corporate Insolvency Resolution Process (CIRP) and the Resolution Professional has received three resolution plans from prospective bidders, which will now be considered by the Committee of Creditors (CoC). The National Company Law Tribunal had earlier finalised the resolution plan of US-based Ingen Capital Group, but recently annulled it as the investor did not bring in money.
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