Orchid Pharma Achieves Over Threefold Increase in Q1 2024 Net Profit

Orchid Pharma announced a consolidated net profit of Rs. In the first quarter ending on June 30, 2024, the revenue increased by over three times to Rs 32.95 crore, exceeding the Rs 9.4 crore recorded in the same quarter of the previous fiscal year.

The operational earnings increased by 33 percent. The amount increased by 6 percent to reach Rs. 244.40 crore in the quarter, when compared to Rs. 182.92 crore was reported during the same period in the previous fiscal year.

According to the company, Orchid's solid market position and ongoing success in diversifying its product lineup supported the performance in the quarter, demonstrating the company's strategic efforts and capacity to seize market opportunities.

Manish Dhanuka, managing director, Orchid Pharma said, “We continue to focus on operational excellence and strategic growth initiatives with a keen eye on project management. We have created a specialized division to combat AMR and our novel drug enmetazobactam, the invented in India drug has put us on a solid footing. It is prudent for me to share that we are all set to launch Orblicef, our brand name for the enmetazobactam+cefepime combination."   He additionally stated that this product is positioned to have a considerable influence in the market. Its partnership with pharmaceutical firm Cipla will expand its outreach even more.

"We hope that Orblicef will reach a larger audience and achieve its full market potential. Effective project management is critical to our success, ensuring that we meet our timelines, stay within budget, and deliver high-quality outcomes that drive our business forward,” added Dhanuka.