Wockhardt posts Q4 net profit at Rs 68.51 cr

Drug firm Wockhardt on Monday reported a consolidated net profit of Rs 68.51 crore for the quarter ended on March 31, 2020.

The company had posted a net loss of Rs 13.90 crore for the corresponding period of previous fiscal,Wockhardt said in a BSE filing.

Consolidated total income of the company stood at Rs 700.66 crore for the quarter under review. It was Rs 866.76 crore in the year-ago period, it added.

Loss for FY20 stood at Rs 43.39 crore. It was Rs 216.66 crore in 2018-19, Wockhardt said.

For 2019-20, total income of the company was at Rs 2,882.80 crore. It was Rs 3,586 crore for the same period year ago.

"The company's board has approved raising of funds up to Rs 1,500 crore by way of equity shares, equity-linked securities, or other eligible securities or a combination of any of the aforementioned securities by way of one or more public and/or private offerings, qualified institutions placement and/or any combination thereof or any other method," the filing said.

During the March quarter, the company's shareholders approved intended sale of part of the domestic branded business comprising 62 products and related business, assets and liabilities including manufacturing facility at Baddi, for a consideration of Rs 1,850 crore to Dr Reddy's Laboratories, Wockhardt said.

Shares of Wockhardt Ltd settled atRs 257per scrip on the BSE, up 1.24 per cent over previous close.