INSUBCONTINENT EXCLUSIVE:
Pharmaceutical firm Wockhardt today reported narrowing of its consolidated net loss to Rs 86 crore for the quarter ended June.
The company
had registered a loss of Rs 410 crore in the same period a year ago.
Consolidated revenue from sales increased by 13.13 per cent to Rs 1,008
crore during the reported quarter from Rs 891 crore in the corresponding period of 2017-18.
"The business performance of the company during
the quarter ended June 30, 2018 showed marked improvement with sales growth of 13 per cent as compared with the similar quarter of the
previous year driven by growth in US, lndia business and growing emerging markets," the company said in a statement.
India, US and Irish
business of the company grew by 30 per cent, 20 per cent and 7 per cent respectively, while there was de-growth of 7 per cent in the UK
business.
Research and development expenditure during the quarter was at Rs 61 crore (6 per cent of sales) and including capital
expenditure, it is at 8.3 per cent of sales.
"Capital expenditure during the quarter was Rs 73 crore," the statement said.
