Q1FY21 results: Wockhardt records net loss of Rs 226 crore

Wockhardt Limited, a global pharmaceutical and biotechnology, announced its quarterly results on August 29, 2020. The company posted a consolidated net loss from continuing operations of Rs 225.58 crore for Q1FY21, which increased further by 260.47 per cent, as compared to Q1FY20 when it reported consolidated net loss Rs 62.85 crore.

However, the company posted a net profit of Rs 759.75 crore for Q1FY21 on account of exceptional items in connection with the transfer of the business comprising 62 products to Dr. Reddy’s Laboratories Limited. The company reported a loss of Rs 36.88 crore in Q1FY20.                                                                                                                                        

The consolidated net sales reported in Q1FY21 came in at Rs 598.27 crore, which declined by 17.55 per cent YoY from Rs 725.58 crore in Q1FY20. At EBITDA level, the company stood at Rs 72.05 crore in Q1FY21 that increased by 17912.5 per cent YoY. For Q1FY20, it posted an EBITDA of Rs negative 0.4 crore.

EBITDA margin as of Q1FY21 was at negative 12.04 per cent that declined by 11.98 per cent YoY. The net profit margin in Q1FY21 came in at negative 37.71 per cent, which declined by 29.05 per cent YoY. The net profit margin in Q1FY20 was at negative 8.66 per cent.

On Monday, at around 10:27 am, the share is trading down by 2.11 per cent at Rs 322.05 on BSE.