Wockhardt Q1 net loss at Rs44.98cr

India Business stood at Rs244cr in Q1FY20 as compared to Rs395cr in Q1FY19 de-grew by 38% mainly on account of lower sales in Quality Generics division and in some of the therapeutic areas.

Aug 14, 2019 08:08 IST India Infoline News Service

Wockhardt
Wockhardt Limited, the Pharmaceutical and Biotechnology major, reported its Q1FY20 net loss at Rs44.98cr. The business performance of the Company during the quarter ended June 30, 2019, showed improvement in EBITDA by 93% from Rs29cr in Q1FY19 to Rs56cr in Q1FY20 driven by Remedial cost reduction and overall cost rationalisation.

Sales during Q1FY20 were at Rs853cr, which also came in lower by 14% as compared to the corresponding quarter of the previous year.

India Business stood at Rs244cr in Q1FY20 as compared to Rs395cr in Q1FY19 de-grew by 38% mainly on account of lower sales in Quality Generics division and some of the therapeutic areas. India’s Business contributed 28% of the global revenue.

The focus in strategic R&D initiatives of the company in the global arena continued to remain one of the key priorities. Such strategic R&D expenses though meant for the future are expensed off.

US Business continued to remain steady at Rs186cr in Q1FY20 as compared to Rs182cr in Q1FY19. US Business contributed 22% of the Global Revenue.

Emerging Market Business of the Company witnessed a growth of 21% in Q1FY20 over Q1FY19 and contributed about Rs144cr. (about 17% of the Global Revenue).

Wockhardt Ltd is currently trading at Rs289.30, up by Rs2.1 or 0.73% from its previous closing of Rs287.20 on the BSE.

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