Wockhardt Limited, the Pharmaceutical and Biotechnology major, delivered a 95% increase in Profit After Tax at Rs.378 crores in 1st Quarter of financial year 2012 - 13.
The EBITDA at Rs. 502 crores grew by 61% and represented 10th consecutive quarter of sequential growth. This sustained EBITDA & PAT performance, both in terms of value & margins, now ushers Wockhardt amongst the Top three Best Performing Indian Pharma companies.
Consolidated revenues grew by 35% to Rs.1,426 Crores over the corresponding quarter of Financial Year 2011‐12. This represented 5th consecutive quarter of sequential growth in consolidated revenues. Wockhardt’s US & EU operations have been the major contributor in its growth and the momentum continued in this quarter as they contributed to 71% of consolidated revenues.
US business recorded a spectacular growth of 78% (45% on $ basis) compared to the corresponding quarter of Financial Year 2011‐12. The US business launched the authorized generic version of Stalevo for which it had received FTF status earlier and 2
OTC products during the quarter.
The UK business recorded a growth of 31% (11% on £ basis) compared to the corresponding quarter of Financial Year 2011‐12 in an otherwise stagnant market. In the quarter the UK & Irish markets launched the generic Atorvastatin which is expected to be a key product for both UK and Irish businesses.
Wockhardt’s R&D continued its multidisciplinary research and patent filings across its 3 R&D centers worldwide employing 578 scientists. The company now has a total of 164 Patents granted & has filed for a total of 1585 Patents Globally. It has received the
Government of India and Pharmexcil award for maximum patents filing for 3 years in a row. The company markets 475 products in the regulated markets manufactured in its India, USA, UK and Ireland facilities.
Late Dr. Abid Hussain, India’s former ambassador to USA and a non executive director on the board of Wockhardt passed away on June 21st 2012. Wockhardt has appointed Dr. Sanjaya Baru, a noted economist and former media advisor to the Prime Minister of
India and Mr. D S Brar, ex CEO and MD of Ranbaxy, as non executive directors on the board.
Wockhardt recently concluded the divestment of its Nutrition business to Danone for Rs. 1,280 crores. This has significantly improved the balance sheet position for the company and its Net Debt to Equity ratio now stands below 1.
Wockhardt Limited,
Wockhardt Towers, Bandra Kurla Complex,
Mumbai 400 051, India
Tel.: +91-22-2653 4444
www.wockhardt.com
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