Wockhardt Results: Rs 6.58 crore loss in Q1FY22, revenue and Ebitda stable; scrip closes 1% weak

The small-cap pharma company Wockhardt on Thursday reported a consolidated net loss of Rs 6.58 crore in the June-ended quarter of the financial year 2021-2022 as compared to a consolidated net profit of Rs 759.75 crore in the same quarter last fiscal.

The company in the first quarter of FY21 had reported a one-time gain of Rs 1,328 crore, and hence due to which the overall profit had increased.

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However, the consolidated revenue from operations jumped almost 44 per cent to Rs 859.6 crore in Q1 FY22, as compared to Rs 598.3 crore on a year-on-year basis, while its consolidated EBITDA stood at Rs 120.8 crore as against an EBITDA loss of Rs 72.1 crore in the same period a year ago.

The research and development expenditure of the company during the quarter came at Rs 34 crore, while the net debt-equity ratio as of June 30, 2021, stood at 0.55, Wockhardt said.

The pharmaceutical company in its result release said. "Four patents were filed during the quarter ended 30th June 2021 and the cumulative filings till date are 3,191. The company was granted three patents during the quarter and now holds 766 patents".

The continuing India business stood at Rs.152 crores in Q1FY22, registering a growth of 144 per cent YoY, while US Business stood at Rs.102 crore and UK Business at Rs.407 crore in Q1FY22, the small-cap company said in results filing to exchanges.

The shares of Wockhardt surged around 5 per cent to Rs 584.5 per share, a day’s high level, on the BSE intraday trade today; eventually to close negative over 1 per cent to Rs 549.85 per share in the second half of the trading session on Thursday.

The Board of Wockhardt at its meeting held on 22 July 2021 has appointed Debashis Dey as the Company Secretary and Compliance Officer effective 23 July 2021, it said in a statement.