Orchid Pharma hits 52 week high on recording nearly 4x jump in Q3 PAT

Orchid Pharma zoomed 18.35% to Rs 1,039.90 after the company reported consolidated profit of Rs 29.43 crore in Q3 FY24, steeply higher than Rs 7.59 crore in Q3 FY23.

Revenue from operations increased 38.08% YoY to Rs 220.59 crore in Q3 FY24 from Rs 159.76 crore reported in Q3 FY23.

Profit before tax from continuing operations soared to Rs 30.19 crore in December 2023 quarter from Rs 6.73 crore posted in same quarter last year.

EBITDA grew 92% to Rs 43.3 crore in the third quarter of FY24 as against 22.6 crore posted in corresponding quarter previous year.

EBITDA margin improved to 20% in during the quarter as compared with 14% reported in same quarter last fiscal.

On nine-month basis, the company recorded consolidated profit of Rs 58.64 crore in 9M FY24 as against a net loss of Rs 12.82 crore posted in 9M FY23. Revenue from operations rose 32.08% YoY to Rs 602.27 crore in 9M FY24.

Orchid Pharma is one of the leading pharmaceutical companies in India head quartered in Chennai and involved in the development, manufacture and marketing of diverse bulk actives, formulations and nutraceuticals with exports spanning over 40 countries.

The counter hit 52-week high of Rs 1,048.45 in todays intraday session.

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