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Wockhardt Q1 net loss narrows to Rs 49 cr

July 22,2021  16:54

Revenue from operations (from continuing operations) soared 57.08% to Rs 278.95 crore in Q1 FY22 as against Rs 177.58 crore in Q1 FY21. Pre-tax loss stood at Rs 77.57 crore in Q1 FY22 as against pre-tax loss of Rs 332.98 crore in Q1 FY21. The Q1 earnings was declared during market hours today, 22 July 2021.

EBITDA (after adjusting for R&D) stood at Rs 108 crore in Q1 FY22 as against negative EBITDA of Rs 49 crore in Q1 FY21. EBITDA margin was at 12.5% during the quarter compared with -7.6% during Q1 June 2020. Net Debt-Equity ratio as on 30 June 2021 stood at 0.55 compared with 0.54 in 31 March 2021.

The continuing India business stood at Rs 152 crore in Q1 FY22 as against Rs 62 crore last year, registering growth of 144% Y-o-Y (year-on-year). Total India business (continued and discontinued operations) stood at Rs 152 crore in Q1 FY22 compared with Rs 116 crore in Q1 FY21, recording a growth of 31% Y-o-Y. India business contributed 18% of the global revenue.

Research and Development (R&D) expenditure during the quarter was at Rs 34 crore (4% to sales) and including capital expenditure was at 8.5% to sales. Capital expenditure during the quarter was Rs 40 crore. Four patents were filed during the quarter ended 30 June 2021 and the cumulative filings till date are 3,191. The company was granted three patents during the quarter and currently holds 766 patents.

Meanwhile, Manas Datta, chief financial officer of Wockhardt, has decided to pursue other responsibilities outside the company and will be leaving the company in the first week of September 2021 and thanked him for his valuable contribution over the past 7 years and wished him all success in his future endeavours.

Wockhardt is a research based global pharmaceutical and biotech company.

Shares of Wockhardt lost 1.32% to close at Rs 549.85 on BSE. The stock traded in the range of Rs 541.80 to Rs 584.50 during intraday trade.

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