Wockhardt has posted higher net sales and net profit during the third
quarter ended December 2014. Its consolidated net sales increased by
14.1 per cent to Rs. 347.25 crore from Rs. 304.45 crore in the
corresponding quarter of last year. EBDITA went up sharply by 97.3 per cent to Rs. 491.58 crore from Rs. 249.18 crore. Its consolidated net sales improved by 11.8 per cent to Rs. 1,382 crore from Rs. 1,236 crore. With higher profits, its EPS improved to Rs. 31.56 from Rs. 27.74 in the last period.
Wockhardt scrip touched to its yearly peak level at Rs. 1290 on BSE after the announcement of financial results for third quarter. Despite sales and profit under pressure for nine months ended December 2014 the scrip moved up by over Rs. 100 in the afternoon session.
The company reduced its interest burden to Rs. 11.88 crore for the quarter under review from Rs. 30.49 crore. It reported foreign exchange loss of Rs. 34.48 crore as against forex gain of Rs. 79.94 crore in the same period of last year. Taxation provision increased significantly to Rs. 57.63 crore from Rs. 11.55 crore.
For the nine months ended December 2014, Wockhardt's consolidated net sales declined by 12.4 per cent to Rs. 3,321 crore from Rs. 3,792 crore in the similar period of last year. Its net profit also declined sharply by 51.6 per cent to Rs. 370.83 crore from Rs. 766.26 crore. EPS worked out to Rs. 33.70 as against Rs. 69.86 in the last period.
The company's standalone net sales for the third quarter improved marginally by 4.7 per cent to Rs. 443.28 crore from Rs. 423.39 crore and it incurred a net loss of Rs. 25.41 crore as against a net profit of Rs. 25.82 in the same period of last year. For first nine months of 2014-15, Wockhardt's standalone net sales improved slightly by 0.8 per cent to Rs. 1,396 crore from Rs. 1,385 crore. However, its standalone net profit went up to Rs. 345.88 crore from Rs. 176.28 crore.