Wockhardt reported a consolidated net loss of Rs 92.8 crore in the March 2021 quarter against a profit of Rs 48.3 crore in the year-ago quarter, dented by the weak US and India businesses.
Wockhardt Ltd
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Wockhardt share price fell 15.8 percent intraday on May 27, a day after the Mumbai-based pharmaceutical company reported a loss in the March quarter. It closed the day at Rs 675, down 14.12 percent on the BSE.
Before this huge single-day fall, the stock had run up 95 percent in the last two months, gaining from momentum in the pharma sector. The Nifty pharma index has gained nearly 19 percent in the same period.
Wockhardt reported a consolidated net loss of Rs 92.8 crore in the March 2021 quarter, against a profit of Rs 48.3 crore in the corresponding quarter, dented by the weak US and India businesses.
Consolidated revenue from operations during the quarter fell 8 percent to Rs 631.96 crore compared to the year-ago quarter.
“India business (both continued and discontinued operations) stood at Rs 118 crore in Q4FY21 as compared to Rs 177 crore in Q4FY20, which contributed 19 percent of the global revenue. US business stood at Rs 95 crore in Q4FY21 as compared to Rs 189 crore in Q4FY20, which contributed 15 percent of the global revenue,” Wockhardt said in its BSE filing on May 26.
The emerging markets business, which contributed 19 percent to the global revenue, was dropped to Rs 121 crore in Q4FY21 from Rs 133 crore in Q4FY20. The UK business, which contributed about 41 percent to global revenue, stood at Rs 261 crore in Q4FY21, showing a growth of 14 percent.
Major growth in the UK business has come from the COVID-19 vaccine business of around 5 million pound, the pharmaceutical and biotechnology company said.
At the operating level, EBITDA loss was at Rs 66.1 crore in the March 2021 quarter against 13.45 crore in the corresponding quarter of the last fiscal.
