Home >Companies >Company Results >Wockhardt Q1 net profit at 760 cr
According to NPPA, if Wockhardt is found not to be an existing manufacturer of methyldopa 250 mg. Photo: Reuters
According to NPPA, if Wockhardt is found not to be an existing manufacturer of methyldopa 250 mg. Photo: Reuters

Wockhardt Q1 net profit at 760 cr

  • The company had posted a net loss of 36.88 crore for April-June while total income stood at 606.22 crore
  • It said that divestment of business undertaking to Dr Reddy's Laboratories was accomplished during the quarter and 1,483 crore has been received

NEW DELHI : Drug firm Wockhardt on Saturday reported a consolidated net profit of 759.75 crore for June quarter mainly on account of exceptional items in connection with the transfer of a business comprising 62 products and Baddi facility to Dr Reddy's Laboratories.

The company had posted a net loss of 36.88 crore for April-June 2019-20, Wockhardt said in a filing to BSE.

Total income stood at 606.22 crore in the quarter under review. It was 733.66 crore in the year-ago period, the filing added.

Wockhardt launched new chemical entity (NCE) during the quarter in the Indian pharma market. Products have been launched under the tablet and injection category under the brand name 'Emrock O and Emrock', the filing said.

The focus on strategic R&D initiatives of the company in the global arena continued to remain one of the key priorities, it added. 

It said that divestment of business undertaking to Dr Reddy's Laboratories was accomplished during the quarter and 1,483 crore has been received towards the same.  

" 43 crore out of 67 crore deposited by the purchaser in an escrow account, towards adjustments for, inter alia, net working capital, employee liabilities and certain other contractual and statutory liabilities etc has since been settled and received," it added.

This story has been published from a wire agency feed without modifications to the text.

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