Drug-maker Wockhardt Ltd has posted a net loss of Rs 192 crore for the three months ended March 31, 2012.

The company had posted a net profit of Rs 162 crore in the corresponding quarter last year.

The net loss was due to a one-time exceptional spending of Rs 450 crore related to its debt-recast, goodwill impairment payment and settlement of disputed derivative liabilities, the company said. Its total income increased from Rs 939 crore in the corresponding quarter last year to Rs 1,241 crore in the period under review.

The Wockhardt Founder Chairman and Group Chief Executive, Dr Habil Khorakiwala, said in a statement: “Wockhardt is back to its positive financial health. Over the past two years, our debt/equity ratio has come down from a high of 5.5 to 1.9 this financial year.

“Our EBITDA margins at 31 per cent for the year and 35 per cent for the quarter, is significantly higher than the industry average.

“Wockhardt has shown immense growth of 57 per cent (Rs 1,440 crore) on EBITDA and 62 per cent (Rs 947 crore) on PAT without exceptional items during the year.”

For the year ended March 31, 2012, the company posted a profit of Rs 343 crore compared with Rs 90 crore in the corresponding period last year. Its total income increased from Rs 3,751 crore for the year ended March 31, 2011, to Rs 4,614 crore in the year under review.

Wockhardt had recast its business and even sold off some of its non-core business to emerge from a Rs 3,800-crore debt, since 2008. The company had earlier said its debt stood at Rs 3,200 crore as on June 2011.

Wockhardt shares were up over 12 per cent on the BSE on Wednesday, following the positive operational performance, an analyst said.

Related Topics