Wockhardt jumped 5.36% to Rs 464 after the company reported a consolidated net profit of Rs 34 crore in Q2 FY22 as against a net profit of Rs 4 crore in Q2 FY21.
Sales increased by 21% YoY to Rs 862 crore during the quarter. The company's UK Business grew by 66% over previous corresponding quarter and stood at Rs 387 crore in Q2FY22. The continuing India Business stood at Rs 187 crore in Q2FY22, registering growth of 47%.
Emerging Markets Business of the company stood at Rs 113 crore (down 33% YoY) in Q2 FY22. Irish Business stood at Rs 38 crore (up 12% YoY) in Q2FY22. US Business stood at Rs 61 crore in Q2FY22 as compared to Rs 99 crore in Q2FY21, registering de-growth of 38%.
Research and Development (R&D) expenses were Rs 39 crore in Q2 FY22, amounting to 4.5% of the sales of the company. In Q2 FY21, R&D expenses aggregated to Rs 45 crore (6.3% of sales).
EBITDA in the second quarter was Rs 109 crore as against Rs 27 crore in the same period last year. EBITDA margin was 12.7% in Q2 FY22 as compared with 3.8% in Q2 FY21.
The company reported a pre-tax loss of Rs 29 crore during the period under review. It had recorded a pre-tax loss of Rs 85 crore in the corresponding quarter last fiscal.
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Wockhardt wrote back taxes worth Rs 66 crore in Q2 FY22. The company had written back taxes worth Rs 88 crore in Q2 FY21.
The company had filed 3 patents during the quarter ended 30 September 2021 and the cumulative filings till date are 3,194. The company was granted 4 patents during the quarter and now holds 770 patents.
Wockhardt is a research based global pharmaceutical and biotech company.
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