By: IPP Bureau
Last updated : November 15, 2022 9:11 am
The company is focussed on increasing the capacity utilizations while controlling costs
Fuelled by increasing sales and a laser sharp focus on costs, Orchid Pharma reported a 36% surge in total revenue from operations while the EBIDTA has jumped by 104% in the quarter ended 30 September 2022 over the quarter ending September 2021.
Dhanuka Group, through its pharmaceutical arm, Dnanuka Laboratories Ltd, had taken over the company through the CIRP (Corporate Insolvency Resolution Process) on 31March 2020. In spite of the COVID-19 Pandemic, the group through its relentless efforts has turned around the business and within a year made the loss-making business profitable.
Speaking on the Q2 results, Manish Dhanuka, Managing Director, Orchid Pharma said, “Our revenues have seen a sharp uptick over the last one year. We have focussed on increasing the capacity utilizations while controlling costs. Owing to all the measures we took, bearing fruit, and a strong product pipeline, the results are a sign of positive things to come. “