Wockhardt Q4 net loss widens to Rs 174.72 cr

Drug firm Wockhardt today reported widening of its consolidated net loss to Rs 174.72 crore during the fourth quarter ended March 31, mainly on account of Brexit and subdued business in the US, UK markets.
The company had posted a net loss after taxes, non controlling interest and share of profit (loss) of associates of Rs 5.38 crore, Wockhardt said in a filing to BSE.
Consolidated net sales of the company's stood at Rs 863.53 crore for the quarter under consideration. It was Rs 1,010.25 crore for the same period year ago.
For the fiscal year ended March 2017, the company posted a consolidated net loss of Rs 195.72 crore. It had posted a net profit of Rs 250.72 crore for the same period year ago.

Consolidated net sales of the company stood at Rs 4,014.61 crore for the fiscal year ended March 2017. It was Rs 4,453.22 crore for the previous fiscal.
"The company's performance during the quarter was affected by subdued business in the US and UK market, continued impact on account of Brexit and remediation costs," Wockhardt said.
The company's board has approved raising of additional capital by way of one or more public or private offerings including through a Qualified Institutions Placement to investors through an issuance of equity shares or other eligible securities for an amount not exceeding Rs 1,000 crore, it added.

Shares of Wockhardt today closed at Rs 715.10 per scrip on BSE, up 0.86 per cent from its previous close.