Wockhardt posts Rs 3.3 cr net loss in Q2

Leading pharma-cum-biotech firm Wockhardt Ltd on Monday reported consolidated net loss of Rs 3.3 crore for the second quarter of 2017-18 as against net profit of Rs 17 crore in the same period year ago.

Sequentially, however, the city-based company reduced net loss to single digit in Q2 drastically from Rs 410 crore posted quarter ago.

In a regulatory filing on the BSE, the drug maker said consolidated revenue from operations for the quarter under review declined 4 per cent annually to Rs 1,022 crore from Rs 1,065 crore in the same period year ago, but grew 15 per cent sequentially from Rs 891 crore last quarter.

On standalone basis, though net profit declined a whopping 83 per cent to Rs 25 crore in Q2 from Rs 146 crore in the same period last year, it recovered from a sequential net loss of Rs 102 crore posted last quarter.

Revenue at Rs 589 crore was 1.5 per cent lower than Rs 598 crore in the same period year ago but up 34 per cent sequentially from Rs 440 crore quarter ago.

Meanwhile, the company's Board has appointed Zahabiya Khorakiwala as Additional Director with effect from Monday.

"Khorakiwala, an MBA from the Indian School of Business in Hyderabad, heads Wockhardt Hospitals as Managing Director. She is also on the Board of RPG Life Sciences Ltd," said the company.

--IANS

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