Wockhardt Pharma reports 12% YoY growth in revenue for Q3; PAT at Rs1.77cr

27 Jan 2022 , 02:29 PM

Wockhardt Limited, the Pharmaceutical and Biotechnology major, reported its 3rd Quarter Results for Financial Year 2021-22, today. The company reported Quarter on Quarter improvement in EBITDA in the current year.

Wockhardt recorded substantial growth in Revenue (up by 12% over) at Rs 854 crore for Q3 FY’22 against Rs 764 crore for the previous corresponding quarter.

EBITDA stood at Rs.114 crore compared to a profit of Rs.56 crore in the corresponding quarter of the previous year, reflecting growth of 103.57%. While Revenue grew by 21% in 9MFY22 over the previous year at Rs 2,575 crore against Rs 2,130 crore for the previous quarter ending December 2020.

It also recorded a substantial improvement in EBITDA at Rs.331 crore for Q3 FY’22 against Rs 34 crore for the previous corresponding quarter.

The company reported a net loss of Rs 7 crore for the quarter under consideration, against profit Rs 15 crore for the previous corresponding quarter, degrowth of over 146%. While its consolidated net profit stood at Rs 1.77 crore for Q3 FY’22.

The company’s UK business grew by 14% in Q3 FY’22 at Rs 343 crore against Rs 301 crore for the previous corresponding quarter. While Indian Business stood at Rs.158 crore in Q3FY22 (PY Rs.123 crore) registering growth of 28%.

Wockhardt Limited also plans to bring a right issue worth Rs 1000 crore. The proceeds of this Issue will be utilized for repayment of subordinated debt due, financing research and development initiatives, general corporate purposes, and/or such other use of proceeds as may be permitted under the applicable laws.

Wockhardt Ltd is currently trading at Rs395.40 down by Rs0.5 or 0.13% from its previous closing of Rs395.90 on the BSE. The scrip opened at Rs395.50 and has touched an intraday high and low of Rs400.95 and Rs379.80 respectively.