Wockhardt Q3 Results: Net profit comes in ₹20 crore, revenue at ₹721 crore; shares down 3%

Pharmaceuticals firm Wockhardt Ltd reported a net profit of ₹20 crore for its December quarter as compared to net loss of ₹86 crore corresponding quarter previous fiscal year.

The company also saw its revenue from operations increase 3% to ₹721 crore during the reporting quarter. The revenue from operations stood at ₹701 crore in Q3FY24.

Wockhardt’s earnings before interest, taxes, depreciation and amortization (EBITDA) for December quarter zoomed 246% year-on-year (YoY) to ₹128 crore as against ₹37 crore in Q3FY24.

During the quarter, the company has allotted 13,000 equity shares of face value of ₹51- each pursuant to exercise of employee clock options.

Post earnings, shares of the pharma firm tanked 2.95% to ₹1601.35 apiece on BSE.

Founded in 1967, Wockhardt Group is research-based, global healthcare enterprise with relevance in the fields of pharmaceuticals, biotechnology, active pharmaceutical ingredients (APIs), and super speciality hospitals.