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Wockhardt Pharma Q1 results: Net profit at Rs 760 crore

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NEW DELHI: Drug firm Wockhardt a prior weekend not too long ago reported a consolidated web profit of Rs 759.75 crore for 06 quarter mainly on account of extraordinary items in connection with the exchange of a business comprising 62 products and Baddi facility to be able to Dr Reddy’s Laboratories. The organization had posted a web loss of Rs 36.88 crore for April-June 2019-20, Wockhardt said in a completing to BSE.

Total cash flow stood at Rs 606.22 crore in the 1 / 4 under review. It was Rs 733.66 crore within the year-ago period, the completing added.

Wockhardt launched brand-new chemical entity (NCE) in the quarter in the Indian pharma market. Products have been launched beneath tablet and injection group under the brand name ‘Emrock U and Emrock’, the completing said.

The focus on preparing R&D initiatives in the company in the global area continued to remain one of the crucial priorities, it added.

It said that divestment of company undertaking to Dr Reddy’s Laboratories was accomplished in the quarter and Rs just one,483 crore has been acquired towards the same.

“Rs 43 crore out of Rs 67 crore deposited by the new buyer in an escrow account, toward adjustments for, inter alia, net working capital, employee expenses and certain other contractual and statutory liabilities etcetera has since been resolved and received,” that added.

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