Monday, November 8, 2021

WOCKHARDT Q2 SALES & PAT JUMPS | STOCK OUTLOOK

     


Wockhardt records multi folds rise in Q2 PAT to Rs34cr, sales jump 21% yoy on robust growth in UK and India biz

The company's sales stood at Rs862cr in Q2FY22 increasing by 21% from Rs714cr a year ago same period. Sales rose marginally from Rs860cr of the preceding quarter.


Wockhardt posted a consolidated net profit of Rs34cr in the quarter ending September 2021 (Q2FY22) compared to a net loss of Rs13cr in the previous quarter. The latest PAT has risen by multi-folds against a profit of Rs4cr recorded in Q2 of last year.

The company's sales stood at Rs862cr in Q2FY22 increasing by 21% from Rs714cr a year ago same period. Sales rose marginally from Rs860cr of the preceding quarter.

Key highlights of the Q2 are:

UK Business grew by 66% over the previous corresponding quarter and stood at Rs387cr in Q2FY22 (PY Rs.233 crore). UK Business contributed about 45% of Global Revenue. Major growth has come from the COVID-19 Vaccine business.

The Continuing India Business stood at Rs187cr in Q2FY22 (PY Rs127cr) registering a growth of 47%. Total India Business (Continued and Discontinued Operations) stood at Rs187cr in Q2FY22 as compared to Rs124cr in Q2FY21 – a growth of 51%. India Business contributed 22% of the Global Revenue.

Emerging Markets Business of the Company stood at Rs113cr in Q2FY22 (PY Rs169cr). Emerging Markets Business contributed about 13% of the Global Revenue.

Irish Business stood at Rs38cr in Q2FY22 (PY Rs34cr). US Business stood at Rs61cr in Q2FY22 as compared to Rs99cr in Q2FY21. US Business contributed 7% of the Global Revenue.

Research and Development expenditure during the quarter was at Rs39 crore (5% to sales) and including capital expenditure was at 7.4% to sales.

STOCK OUTLOOK

Stock looks strong and can test 494 in short term and 591 in mid term.





Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.


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