Wockhardt Q2 PAT down 97% at Rs 3.6 cr

Mumbai-based Wockhardt Limited, has posted a decline of 97% in profit after tax for the quarter ended September following the US FDA import alerts on India plants. It posted a PAT of Rs 3.6 crore against Rs 138.5 crore in Sept quarter of FY 2014.

Total Income has decreased from Rs 1,188 crore to Rs 997 crore for the second quarter of FY15. Wockhardt's international business contributed 67% of the total revenues during the quarter.

It had posted decline of 94% in its first quarter net profit at Rs 20 crore.

Wockhardt's US business declined by 56.3% in Q2FY15 and contributed 24% of the global revenues in Q2. The UK business declined by 4% in Q2FY15. Company's India business recorded a growth of 18% in Q2FY15.

On Monday, Wockhardt shares went up 1.52% to close at Rs 770.4 on BSE.

In May, FDA imposed a ban on the company's Waluj plant after inspectors found torn data records in a waste heap and urinals that emptied into an open drain in a bathroom six metres from the entrance to a sterile manufacturing area.

In November, the FDA issued an important alert against Chikalthana plant. Last year, UK's Medicines and Healthcare Products Regulatory Agency (MHRA) also issued a restricted license on Wockhardt's Waluj and Chikalthana plants.