Orchid Pharma slides as PAT slumps 49% YoY in Q4 FY24

Orchid Pharma slipped 6.53% to Rs 1,025.35 after the pharma company's consolidated net profit tumbled 49.19% to Rs 33.50 crore in Q4 FY24 as compared with Rs 65.93 crore in Q4 FY23.

However, income from operations rose 3.43% YoY to Rs 217.10 crore in the quarter ended 31 March 2024.

Profit before tax from continuing operations stood at Rs 30.38 crore in March 2024 quarter, down 53.92% from 65.93 crore in same quarter last year.

EBITDA rose to Rs 41.8 crore in the fourth quarter of FY24 as against 41.4 crore posted in corresponding quarter previous fiscal.

EBITDA margin reduced to 19% during the quarter as compared with 20% reported in Q4 FY23.

On a full year basis, the companys consolidated profit jumped 72.07% to Rs 95.07 crore on 23.05% increase in revenue from operations to Rs 819.76 crore in FY24 over FY23.

Manish Dhanuka, managing director, Orchid Pharma said, Our revenues have experienced a significant increase over the past year. We have concentrated on maximizing capacity utilization while maintaining stringent cost controls. The positive outcomes of these initiatives, combined with a robust product pipeline and Capex of more than 800 Crore over the next few years, indicate promising future prospects.

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.

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