Drug firm Wockhardt yesterday reported an over 11-fold jump in its consolidated net profit to Rs 37.17 crores for the quarter ended 30th September, 2021.
The company had posted a net profit of Rs 3.29 crores for the corresponding period of the previous fiscal, Wockhardt said in a regulatory filing.
Consolidated revenue of the company stood at Rs 862 crores for the quarter under consideration. It was Rs 714.05 crores in the year ago period, it added.
“Net debt-equity ratio as on 30th September, 2021, stood at 0.54,” the filing said.
The UK business grew by 66 per cent over the previous corresponding quarter and stood at Rs 387 crores in Q2FY22. It contributed about 45 per cent of the global revenue, it added.
The continuing India business stood at Rs 187 crores in the second quarter of FY22 registering growth of 47 per cent. It contributed 22 per cent of the global revenue, Wockhardt said.
“Research and development expenditure during the quarter was at Rs 39 crores (five per cent to sales) and including capital expenditure was at 7.4 per cent to sales,” it added.
Three patents were filed during the quarter ended 30th September, 2021, and the cumulative filings till date are 3,194. The company was granted four patents during the quarter and now holds 770 patents, Wockhardt said.
The company also said that it has partnered with Jemincare for a novel respiratory antibiotic to treat community-acquired bacterial pneumonia and other respiratory tract infections. Under the agreement, Jemincare will be responsible for exclusive development and commercialisation of the Nafithromycin in the select markets. Wockhardt will receive an upfront payment and will be eligible for regulatory-linked milestone payments. Further, Wockhardt would supply the product to Jemincare and will receive royalties on net sales.
Apart from it, Wockhardt has also joined hands with the Russian Direct Investment Fund (RDIF) to produce Sputnik V and Sputnik Light vaccines.
Edits by EP Bureau