Wockhardt reports Q1 net of ₹760 crore

The company had posted a net loss of ₹36.88 crore for April-June 2019-20, Wockhardt said.

Drug firm Wockhardt reported a consolidated net profit of ₹759.8 crore for June quarter mainly on account of exceptional items in connection with the transfer of a business comprising 62 products and Baddi facility to Dr. Reddy’s Laboratories.

The company had posted a net loss of ₹36.88 crore for April-June 2019-20, Wockhardt said.

Total income stood at ₹606.22 crore. It was ₹733.66 crore in the year-ago period.

It said that divestment of business undertaking to Dr. Reddy’s Laboratories was accomplished during the quarter and ₹1,483 crore has been received towards the same.