Wockhardt soared 13.76% to Rs 340.20 after consolidated net profit stood at Rs 19.21 crore in Q3 December 2019 as against a net loss Rs 76.86 crore in Q3 December 2018.
Consolidated net sales fell 16.89% to Rs 869.15 crore in Q3 December 2019 as compared Rs 1,045.86 crore in Q3 December 2018.Profit before tax (PBT) stood at Rs 16.42 crore in Q3 December 2019, compared with pre-tax loss of Rs 120.59 crore in Q3 December 2018. The current tax expense surged 322.80% to Rs 14.46 crore in Q3 December 2019 over Rs 3.42 crore in Q3 December 2018. The Q3 earnings were announced during market hours today, 27 January 2020.
EBITDA grew 473.68% to Rs 109 crore in Q3 December 2019 from Rs 19 crore in Q3 December 2018. The EBITDA margin improved to 12.5% in Q3 December 2019 as against 1.9% in Q3 December 2018.
During the nine-months ended 31 December 2019, the company repaid Rs 768 crore (previous year Rs 750 crore) towards various long term debt obligations as per schedule. Debt repayment during the quarter was Rs 359 crore (previous year Rs 347 crore). Gross Debt-Equity ratio as on 31 December 2019 stood at 0.95.
India business stood at Rs 235 crore in Q3 FY 2020 as compared to Rs 363 crore in Q3 FY 2019. De-growth was mainly on account of lower sales in quality generics division and in some of the therapeutic areas. The India business contributed 27% of the global revenue.
Total EU Business contributed 33% of the Global Revenue. UK and US businesses contributed 25% each of the Global Revenue. Emerging market business contributed about 16% of the Global Revenue.
Research & Development expenditure during the quarter was at Rs 45 crore (5% to sales) and including capital expenditure is at 9% to sales.
The company's filed 5 patents during Q3 December 2019 taking the cumulative filings to 3,162. The company was granted 9 patents during the quarter and now holds 717 patents.
Wockhardt is a global pharmaceutical and biotechnology organization, providing affordable, high-quality medicines.
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