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HomeMarket NewsWockhardt narrows loss, lifts margins in Q2; shares climb 5%
Wockhardt’s Q2 loss narrowed to ₹16 crore from ₹73 crore a year earlier, bolstered by a 7.4% revenue rise and expanded margins, sending shares up 5% on the BSE.
By Sheersh Kapoor November 13, 2024, 2:18:27 PM IST (Published)
Pharmaceutical company Wockhardt Limited reported narrowed losses and improved earnings in its second-quarter financial results, reflecting a stronger revenue performance and wider operating margins.
The company’s net loss stood at ₹16 crore for the quarter ended September 2024, a marked improvement from the ₹73 crore loss recorded in the same period last year.
Revenue climbed by 7.4% year-on-year to ₹809 crore, compared to ₹753 crore in the previous year’s quarter.
Operating earnings (EBITDA) also saw a robust boost, rising 52.8% to ₹110 crore from ₹72 crore last year. The company’s EBITDA margin expanded to 13.6% from the prior 9.6%, signalling a more efficient cost structure and improved profitability.
Also read: Alkem Labs Q2 Results: Revenue falls but profit and margin expand from last year
In response to the earnings announcement, Wockhardt’s shares surged, trading at ₹1,240.55 on the BSE by 2:02 PM, reflecting a 5% intraday gain.
