Wockhardt posts second quarter and first half results for the financial year 2014

Wockhardt has posted its second quarter and first half results for the financial year 2014. The consolidated revenue for the quarter ended September 30 was Rs 1197 crore and profit after tax was at Rs 138 crore which represents 11.5 per cent of profit after tax margins.

The company increased its research spend significantly and the same is now at 8.9 per cent to sales at Rs 106 crores and including capital expenditure is at 10.2 per cent to sales for the quarter. Wockhardt filed three new product applications with US FDA during the quarter. Cumulative products pending approval with US FDA stands at 53 as on September 2013.

Wockhardt also filed for 36 patents during the quarter taking the cumulative filings to 1792 and has been granted 12 patents during the quarter taking the cumulative patents granted to 232.

The consolidated revenue for the first half year ended September 30, 2013 was Rs 2555 crore and profit after tax was at Rs 462 crore which represents 18 per cent of profit after tax margins. Research expenses stood at Rs 204 crores for the first half representing eight per cent of sales and including. capital expenditure is at 8.8 per cent of sales.

Wockhardt filed seven new product applications with US FDA during the first half year. It launched 13 new products in India in Q2FY14 and introduced two new divisions in India. UK received three approvals and launched one product during the quarter.

EP News Bureau – Mumbai