Wockhardt Q1 net loss narrows to Rs 44.98 crore

Pharma major Wockhardt on Wednesday reported narrowing of consolidated net loss to Rs 44.98 crore for the June quarter.

The company had posted a consolidated net loss of Rs 86.18 crore in the year-ago period, Wockhardt said in a regulatory filing.

Consolidated revenue from operations was lower at Rs 863.11 crore in the first quarter as against Rs 1,007.71 crore in the year-ago quarter, it added.

During latest the quarter, they company's lndia business stood at Rs 244 crore as compared to Rs 395 crore in the same period last fiscal, a decline of 38 per cent, mainly on account of lower sales in quality generics division and in some of the therapeutic areas.

India business contributed 28 per cent of the overall global revenue of the company, it said.

The US business continued to remain steady at Rs 186 crore as compared to Rs 182 crore in the same quarter a year ago, accounting for 22 per cent of global revenue.

Emerging markets business witnessed a growth of 21 per cent during the quarter at Rs 144 crore, while the UK business declined by 6 per cent at Rs 225 crore, it said.

Wockhardt said during the first quarter it repaid Rs 351 crore towards various long-term debt obligations as per schedule.

"Total long-term outstanding debts as on June 30, 2019, was Rs 2,119 crore as compared to Rs 2,723 crore as on June 30, 2018," it said.