Wockhardt Limited, the Pharmaceutical and Biotechnology major, reported its 2nd and 1st half results for Financial Year 2014. Commenting on the results the Mananging Director of Wockhardt, Dr. Murtuza Khorakiwala said "The current performance has been impacted due to the recent reguklatory actions, however Team Wockhardt is commited to raise the bar across all functions and revert with better performance in all areas of operations at the earliest."
The key points of the result announced includes:
- Consolidated revenue for the quarter was Rs. 1197 crore and Profit After Tax was at Rs 138 crore which represents 11.5% of Profit After Tax Margins.
- The company increased its Research spend significantly and the same is now at 8.9% to sales at Rs 106 crores and including capital expenditure is at 10.2% to sales for the quarter.
- Wockhardt filed 3 new product applications with USFDA during the quarter. Cummulative products pending approval with USFDA stands at 53 as on September 2013.