Wockhardt Ltd., a global pharmaceutical and biotechnology company, reported net loss for the quarter on consolidated basis, hurt by higher expenses towards dispute settlement, provision for CDR recompense, impairment of goodwill.
On a stand-alone basis, the company reported loss for the quarter, due to tax expenses and expenses towards dispute settlement.
The Mumbai-based company posted fourth-quarter consolidated net loss, after share of profit of associates, of Rs.191.64 crore or Rs.17.52 per share, compared with a net profit of Rs.161.83 crore or Rs.14.79 per share for the quarter ended March 31 last year.
Results for the quarter included a one-time charge of Rs.450.40 crore, compared with a charge of Rs.179.42 crore, under exceptional items, towards settlement of loan/disputed derivative liabilities, provision for CDR recompense, impairment of goodwill.
Its quarterly net income from operations stood at Rs.1,241.39 crore, up by 32 percent from the Rs.938.73 crore in Q4FY11, while other income was Rs.6.74 crore, compared with Rs.2.30 crore in the year-ago quarter.
For the fiscal year, its consolidated net profit rose more than four-fold to Rs.342.71 crore from the Rs.90.52 crore for the year ended March 31 last year. Total income, including other income, amounted to Rs.4,637.26 crore, compared with Rs.3.767.14 crore in 2011, an increase of 23 percent.
The company reported fourth-quarter stand-alone net loss of Rs.68.64 crore or Rs.6.27 per share, compared with a net profit of Rs.32.25 crore or Rs.2.95 per share in the year-ago quarter. Total income, including other income totaled Rs.722.93 crore, compared with Rs.428.03 crore in the year ago-quarter, reflecting a 31 percent drop.
Results for the quarter impacted by a charge of Rs.157.51 crore towards tax expenses, compared to NIL last year.
Results for the quarter also included a one-time charge of Rs.150.00 crore, compared with a charge of Rs.1.33 crore, under exceptional items, towards settlement of loan/disputed derivative liabilities and provision for CDR recompense.
For the full year, the company posted stand-alone net profit of Rs.184.00 crore, compared with a net loss of Rs.132.07 crore in 2011. Total income, including other operating income, amounted to Rs.2,580.52 crore, up by 46 percent from the Rs.1,772.01 crore a year-ago.
The company's board recommended a of 0.01 percent or Rs. 0.0005 per preference share of Rs.5 each on Non-Convertible Cumulative Redeemable Preference shares of Rs.5 each and Optionally Convertible Cumulative Redeemable Preference Shares of Rs.5 each absorbing a sum of Rs.21.75 lakh, on cumulative basis.
At the BSE, Wockhardt shares are being traded at Rs.715.00, up 7.42 percent from the previous close.
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by RTT Staff Writer
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