Drug-maker Wockhardt posted a healthy profit after tax of Rs 335 crore for the three months ended March 31, 2013. This compares with the loss of Rs 192 crore in the corresponding period last year.
The company’s consolidated revenues in the quarter under review stood at Rs 1,486 crore, up 26 per cent from the previous year. Wockhardt’s international business accounts for 83 per cent of its total revenues in the quarter under review.
Only last week, Wockhardt had been issued an import alert from the US Food and Drug Administrator on one of its plants at Aurangabad. The company expects this will hit its revenues by $100-million.
For the year ended March 31, 2013, Wockhardt’s profit after tax stood at Rs 1,594 crore on a consolidated revenue of Rs 5,610 crore. The US business recorded 52 per cent growth over the year, driven by niche launches and first-to-file products, the company said. The company’s UK business recorded a growth of 24 per cent, in an otherwise stagnant market, the company said. The India business grew 8 per cent and emerging markets by 24 per cent.
The company’s spend on research stood at 6.7 per cent of sales.
The company filed 20 new product applications with the US regulator, in the year under review and received approvals to sell 12 products, a company statement said. Applications for about 46 products are pending approval from the USFDA, up to March 2013, the company added.
Wockhardt shares closed up almost 4 percent on the BSE, at Rs 1277 on Monday.