Troubled pharma company Wockhardt said net loss for the Jan-March 2010 quarter mounted to Rs 565.2 crore from Rs 102 crore in the previous corresponding period. The company said this included derivatives-related losses and non-cash provisions for impairment of Negma?s goodwill due to the possible threat of generics to its principal product amounting to Rs 633 crore. There was also an exchange fluctuation loss of Rs 16 crore, it added.
During the period under review, sales revenue was at Rs 872 crore compared to Rs 862 crore earlier and operating profit (EBITDA) was Rs 158 crore.
During the 15 months period (Jan 2009 ? Mar 2010), the revenue was Rs 4,501 crore and operating profit (EBIDTA) was Rs 823 crore.
Wockhardt?s India branded business grew by 24% in the Jan-Mar period over the corresponding period of 2009. The nutrition business grew by 20%, the company said in a release.
Wockhardt UK grew by 19% compared to the industry growth of only 5% in Jan-Mar 2010 over the corresponding period of 2009. The growth drivers for this were hospital products that grew by 16% and exports that grew 31%. The CRAMS business grew by 23% over the same period. ?Pinewood Healthcare?s domestic business is back on track after its sluggish growth in 2009 and has maintained a market share of 29% during the same period,? Wockhardt said.
