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Wockhardt share price falls over 6% post Q2 earnings

BusinessToday.In     November 8, 2019

Wockhardt share price closed lower today the pharma firm Thursday reported widening of consolidated net loss to Rs 94.24 crore for the September quarter against Rs 30.84 crore in the same quarter of last fiscal. Wockhardt share price fell up to 6.42% intra day to Rs 281.5 compared to the previous close of Rs 300.80 on BSE. It opened 3.59%  lower at Rs 290 on BSE today.

The small cap stock has fallen after two days of consecutive gain. It has lost 44% in last one year and fallen 45.43% since the beginning of this year.

In Q2, revenue from operations declined to Rs 802.18 crore compared to Rs 1,125.68 crore in the year-ago period. Revenue of India business, which accounted for 28 per cent of global sales, stood at Rs 227 crore in the second quarter as compared to Rs 455 crore in same period last fiscal.

"The de-growth is mainly on account of lower sales in quality generics division and in some of the therapeutic areas," the company said.

The US business clocked revenue of Rs 145 crore as compared to Rs 186 crore in the same period last fiscal, while emerging market sales were at Rs 132 crore as against Rs 144 crore in the same period last fiscal, the company added.

During the first half year ended September 30, 2019, Wockhardt said it has repaid Rs 408 crore towards various long-term debt obligations as per schedule.

Subsequently, the total long-term outstanding debts as on September 30, 2019, is Rs 2,098 crore as compared to Rs 2,789 crore as on September 30, 2018, and Rs 2,469 crore as on March 31, 2019.

By Aseem Thapliyal

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