Wockhardt Q4 profit up 26% buoyed by emerging markets

Drugmaker Wockhardt Ltd has registered a 26 per cent growth in its consolidated net profit for the three months ended March 31, 2016.

The group has posted a net profit after taxes, minority interest and share of profit of associates of ₹43 crore for the quarter under review against ₹34 crore in the corresponding period of the previous year.

Marginal fall in income Its total income, however, decreased from ₹1,052 crore in the quarter last year to ₹1,025 crore in the period under review.

The company’s businesses in the emerging markets and India buoyed growth, with the UK also supporting performance, the company said.

Wockhardt received two approvals in the US and has made 17 abbreviated new drug application (ANDA) filings during the year, it said, without giving updates on its plants that are facing regulatory action from the US Food and Drug Administration.

For the year ended March 31, 2016, the Group posted a net profit after taxes, minority interest and share of profit of associates of ₹325 crore against ₹404 crore last year.

Its total income increased from ₹4,430 crore for the year ended March 31, 2015, to ₹4,543 crore in the year under review. International markets contributed close to 70 per cent of the company’s revenues.

The company’s board at a meeting on Friday also approved the issuance of non-convertible debentures on private placement to raise ₹1,200 crore.