Wockhardt reports Q1 net loss at Rs 75 cr as revenue from UK, US declines

Pharmaceutical firm Wockhardt Ltd on Friday reported a widening of consolidated net loss at Rs 75 crore in the first quarter ended June as revenue from key markets of the UK and the US declined.

The company had posted a consolidated net loss of Rs 7 crore in the same quarter last fiscal, Wockhardt Ltd said in a regulatory filing.

Consolidated revenue from operations were at Rs 595 crore during the period under review, down from Rs 860 crore last year.

UK business revenue stood at Rs 196 crore in the first quarter as against Rs 407 crore in the preceding fiscal. Similarly, US business also posted lower revenue at Rs 74 crore from Rs 102 crore a year ago, impacted by price erosion and supply disruptions.

However, revenue from Indian operations was at Rs 158 crore, a growth of 4 per cent in comparison to the year-ago quarter, it said.

Total expenses were lower at Rs 748 crore. The same stood at Rs 880 crore previous year.

Wockhardt said it filed seven patents during the quarter and one was granted, taking its total patents to 804.