Wockhardt Q1 net loss narrows to Rs 86 crore

New Delhi: Pharmaceutical firm Wockhardt 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 percent 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 percent 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 percent, 20 percent, and 7 percent respectively, while there was de-growth of 7 percent in the UK business.

Research and development expenditure during the quarter was at Rs 61 crore (6 percent of sales) and including capital expenditure, it is at 8.3 percent of sales.

"Capital expenditure during the quarter was Rs 73 crore," the statement said.