Tuesday, 28 September 2021

Wockhardt posts revenue growth of 36 per cent in Q1FY 22

22 July 2021 | News

Registers an EBITDA of Rs 108 crore over the previous quarter

Wockhardt has posted its first-quarter result for the financial year 2021-22. The company has recorded substantial revenue growth (up by 36 per cent over the previous quarter and 32 per cent over the previous corresponding quarter) and in EBITDA at Rs 108 crore compared to a loss of Rs 49 crore in the corresponding quarter of the previous year. Profit after Tax (PAT) for the quarter was Rs 13 crore against Rs 93 crore in the previous quarter. Net Debt-Equity ratio as of June 30, 2021, stood at 0.55 (March 31, 2021, stood at 0.54).

During the quarter ended June 30, 2021, the UK business grew by 86 per cent over the previous corresponding quarter and stood at Rs 407 crore in Q1FY22 (PY Rs 218 crore).  The UK business contributed about 47 per cent of the global revenue. Major growth has come from the COVID-19 vaccine business.
 
The continuing India business stood at Rs 152 in Q1FY22 (PY Rs 62 crore) registering a growth of 144 per cent. The total India business (Continued and Discontinued Operations) stood at Rs 152 crore in Q1FY22 as compared to Rs 116 crore in Q1FY21 – a growth of 31 per cent. India business contributed 18 per cent of the global revenue.
 
The emerging markets business of the company stood at Rs 124 crore in Q1FY22 (PY Rs 139 crore). The emerging markets business contributed about 14 per cent of the global revenue.  The Irish business stood at Rs 36 crore in Q1FY22 (PY Rs 33 crore). The US business stood at Rs 102 crore in Q1FY22 as compared to Rs 114 crore in Q1FY21. In the US, the business contributed 12 per cent of the global revenue. Research and development expenditure during the quarter was at Rs 34 crore (4 per cent to sales) and including capital expenditure was at 8.5 per cent to sales. Capital expenditure during the quarter was Rs 40 crore.

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