Wockhardt’s Profit Slumps, Margins Contract In Second Quarter
Wockhardt Ltd. reported a 74.6 percent decline in profit in the July-September quarter.
Mumbai-based pharmaceutical and healthcare company Wockhardt Ltd. reported a 74.6 percent decline in profit in the July-September quarter.
Net profit fell to Rs 24.9 crore from Rs 98.1 crore in the corresponding quarter of the previous financial year, the company said in a stock exchange filing.
Revenue for the second quarter decreased 13.4 percent to Rs 1,064.7 crore from Rs 1,229.6 crore in the same quarter last year.
Earnings before interest, taxes, depreciation and amortisation slipped 50 percent to Rs 99.5 crore compared to Rs 198.7 crore year-on-year. The EBITDA margin contracted 680 basis points to 9.3 percent.
The international business contributed 59 percent of the total revenue of the company during the second quarter.
During the quarter, Wockhardt spent Rs 99 crore on research and development, which is 9 percent of the company’s total revenue. The company incurred a capital expenditure of Rs 88 crore.
The company declared an interim dividend of 200 percent in the quarter, which amounts to Rs 10 per equity share of face value Rs 5 each.