Wockhardt reports net sales at Rs1,005 crore in Q3 FY18

EBITDA was at Rs. 45 crore which grew 6 times Q-o-Q and 2.5 times Y-o-Y

Wockhardt, the pharmaceutical and biotechnology company has reported its 3rd quarter result for financial year 2018. The company witnessed Net Sales at Rs.1,005 crore in Q3 FY18 and EBITDA was at Rs. 45 crore which grew 6 times Q-o-Q and 2.5 times Y-o-Y.

The business performance showed marked improvement during the quarter with significant increase in EBITDA to 2.5 times to Rs. 45 crores compared to Rs. 18 crores in Q3 FY 17. Company’s focus on cost containment and rationalisation continues delivering its intended positive impact on profitability inspite of on-going remedial measures. However, the focus in strategic R&D initiatives of the Company continues in-spite of the fact that they are expensed off.

India Business grew by 10 per cent Y-o-Y and three (3) new products were launched during the quarter.

Emerging Market Business of the Company grew by 26 per cent Q-o-Q and 18 per cent in Q3 FY18 over Q3 FY17.