Wockhardt Ltd has posted net profit of Rs.90.52 crore during the year ended March 2011 as against a net loss of Rs.1,001 crore in the previous year of 15 months period mainly due to foreign exchange gains and lower loss from exceptional items. The company has shown exceptional loss of Rs.573 crore as against Rs.1,295 crore in the previous year and its foreign exchange gains amounted to Rs.136.66 crore as against a loss of Rs.25.93 crore in the last year. Further it paid premium on FCCBs to the tune of Rs.26.83 crore in the last year. These items inflated its net profit to the level of Rs.91 crore.


The consolidated net sales worked out to Rs.3,751 crore for the 12 months period ended March 2011 as compared to Rs.4,501 crore in the 15 months period of last year, representing an annualised growth of 4.2 per cent.


The company has issued 11.09 crore non convertible cumulative redeemable preference shares (NCRPS) of Rs.5 each amounting to Rs.55.45 crore and 22,386,344 optionally cumulative redeemable preference shares (OCCRPS) of Rs.5 each amounting to Rs.11.19 crore to various banks. The NCRPS are redeemable in the year 2018 and the holders of the OCCRPS have the option to convert the said shares into equity shares from July 4, 2016.


The company deposited a sum of Rs.115 crore with Bombay High Court in respect of ad-interim relief granted in respect of winding-up petitions filed by certain lenders/banks.


During the year under review, Wockhardt France (Holdings) SAS and some of its subsidiaries have been placed under safeguard proceedings by the proactive initiative of the company. Under the said process the syndicated loan availed by Wockhardt France is being restructured and operating cost are being reduced.