Orchid Chemicals net profit at Rs 159 cr; stock down

MUMBAI: Orchid Chemicals & Pharmaceuticals reported standalone net profit of Rs 159.48 crores for the year ended March 2011 against Rs 331.33 crores in the same period a year ago. Net sales were at Rs 1594.67 crores for the year as against Rs 1205.18.59 in the last fiscal.

The company is also planning to raise Rs 1000 crores via equity/FCCBs.

The stock was at Rs 283.85, down 3.70 per cent on the BSE. It touched a high of Rs 291 and low of Rs 281.55 in trade so far.