Quarterly Result: Wockhardt Ltd.
Bhagyashree Vivarekar / 10 Nov 2016
Wockhardt Ltd ended at Rs. 815.8, up by 24.9 points or 3.15% from its previous closing of Rs. 790.9 on the BSE. Net profit dropped sharply by 81.6% yoy to Rs 17.02 cr.
Technical View:
Wockhardt Ltd ended at Rs. 815.8, up by 24.9 points or 3.15% from its previous closing of Rs. 790.9 on the BSE.
The scrip opened at Rs. 820 and touched a high and low of Rs. 821.85 and Rs. 805.9 respectively. A total of 728247(NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA.
Consolidated Results Q2FY17:
Wockhardt Ltd posted its consolidated Q2FY17 results. Its reported net revenue for the quarter declined 13.4% to Rs 1064.7 cr. during the corresponding quarter of previous year. This was inspite of 8% yoy growth in the UK business and 15% yoy growth in domestic business.
EBITDA declined further by 49.9% yoy to Rs 99.51 cr with EBITDA margin contraction of just 680 bps to 9.3%.
Moreover, net profit dropped sharply by 81.6% yoy to Rs 17.02 cr. This was partially because of 86.4% yoy rise in finance costs.
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