Wockhardt Q1 loss narrows to ₹86 crore
Consolidated revenue from sales increased by 13.13% to ₹1,008 crore during the reported quarter from ₹891 crore in the corresponding period of 2017-18
New Delhi: Pharmaceutical firm Wockhardt on Saturday reported narrowing of its consolidated net loss to ₹86 crore for the quarter ended June.
The company had registered a loss of ₹410 crore in the same period a year ago. Consolidated revenue from sales increased by 13.13% to ₹1,008 crore during the reported quarter from ₹891 crore in the corresponding period of 2017-18.
“The business performance of the company during the quarter ended 30 June 2018 showed marked improvement with sales growth of 13% as compared with the similar quarter of the previous year driven by growth in US, lndia business and growing emerging markets,” the company said in a statement.
India, US and Irish business of the company grew by 30%, 20% and 7% respectively, while there was de-growth of 7% in the UK business. Research and development expenditure during the quarter was at ₹61 crore (6% of sales) and including capital expenditure, it is at 8.3% of sales.
“Capital expenditure during the quarter was ₹73 crore,” the statement said.