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Royal Orchid reports 66 pc drop in profit
The net profit of the company for the fourth quarter at Rs 2.72 crore was 66 per cent lower than Rs 8.22 crore in the same period last year. For the full year ended 31 March 2009, Royal Orchid’s total income was 9.6 per cent higher at Rs 94.31 crore but net profit for the year at Rs 19.29 crore was 37 per cent lower.
The profits were lower on account of recession, terror attacks and investment of all the IPO funds which caused a drop in interest income, the company explained.
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