Wockhardt net down 83% at Rs 16 crore; India business grows 10%
The company’s India business grew by 10% in the quarter led by continued new products launches and focused strategies on various therapies, the company said in a notification to BSE. In April-June, 11 new projects were launched in India.
Healthcare firm Wockhardt has reported a net profit of Rs 15.89 crore for the June quarter-ended, a decline of 82.65% from the Rs 91.61 crore posted in the same period last year.
Sequentially, however, the company's performance has bettered from the Rs 7.61 crore net loss reported.
In the quarter, the company's total income was at Rs 1,090.83 crore, down by 4.21% compared to Q1 FY17 but up by 7.94% on quarter.
Also, operating profit (EBITDA – earnings before interest tax depreciation and amortisation) at Rs 193 crore, grew 9.65% yoy and 33.10% qoq. The company's operating profit margin was at 7.81%, 671 basis points lower on year 71 basis points more than in the previous quarter.
On a standalone basis, the company performed better, reporting a net profit of Rs 16.33 crore, against net losses of Rs 31.58 crore in April-June 2015.
The company's UK business posted robust performance and grew by 26% in Q1 FY17 compared to last year. The company made three new drug filings and received one new approval for the UK market.
The company’s India business grew by 10% in the quarter led by continued new products launches and focused strategies on various therapies, the company said in a notification to BSE. In April-June, 11 new projects were launched in India.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
03:59 PM IST