Wockhardt reports consolidated net profit of Rs 1.77 crore in Q3

New Delhi, Jan 27 Drug maker Wockhardt on Thursday reported a consolidated net profit of Rs 1.77 crore for the third quarter ended December 31, 202..

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Drug maker Wockhardt on Thursday reported a consolidated net profit of Rs 1.77 crore for the third quarter ended December 31, 2021.

The company had posted a net profit of Rs 32.4 crore in the same period of 2020-21 fiscal.

Income from continuing operations rose to Rs 853.89 crore in the third quarter as against Rs 764.02 crore in the October-December period of the previous fiscal, Wockhardt said in a regulatory filing.

The company said it plans to bring in a rights issue to raise upto Rs 1,000 crore.

“The objective of the Issue is to, inter alia, meet the company’s financing needs for repayment of subordinated debt due, financing research and development initiatives, general corporate purposes and/or such other use of proceeds as may be permitted under the applicable laws,” it added.