Wockhardt’s Q2 FY22 Revenue Grew By 21% Over Q2 FY21

Wockhardt, the Pharmaceutical and Biotechnology major, reported its 2nd Quarter Results for Financial Year 2021-22, today.

The company recorded substantial growth in Revenue (up by 21 per cent over previous corresponding quarter) and in EBITDA at Rs 109 crore compared to a nominal profit of Rs 27 crore in the corresponding quarter of the previous year. Profit after Tax (PAT) for the quarter was Rs 34 crore against Rs (13) crore in the previous quarter.

Net Debt-Equity ratio as on 30th September 2021 stood at 0.54.

Wockhardt Bio AG – a subsidiary of Wockhardt and Jiangxi Jemincare Group Company, China, have partnered for Wockhardt’s novel patented antibiotic WCK 4873 (INN:Nafithromycin) in People’s Republic of China, Hong Kong, Macau and Taiwan for the treatment of community-acquired bacterial pneumonia and other respiratory tract infections.

Under the terms of the definitive agreement, Jemincare will be responsible for exclusive development and commercialization of the Nafithromycin in the select markets. 

The Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund) and Wockhardt, a global pharmaceutical company headquartered in India, have partnered to produce and supply Sputnik V and Sputnik Light vaccines against COVID-19. The agreement was reached under the aegis of Enso Healthcare (part of Enso Group), RDIF's coordination partner for sourcing Sputnik V vaccines in India.

The single dose Sputnik Light vaccine demonstrated 79.4 per cent efficacy according to analysed data taken from 28 days after the injection was administered as part of Russia’s mass vaccination programme.

One-shot Sputnik Light vaccine demonstrates 70 per cent efficacy against infection with the Delta variant during the first three months after vaccination. The vaccine is more than 75 per cent effective among subjects under the age of 60. Sputnik Light also provides much higher efficacy against severe diseases and hospitalisation.

Sputnik V demonstrates 83.1 per cent efficacy against the Delta variant of Coronavirus - higher than many other vaccines. The vaccine shows 6 times reduction of infection risk. Sputnik V is also 94.4 per cent effective against hospitalisations with 18 times reduction in hospitalisation risk.

Business review:

Quarter ended 30th September, 2021:

 India business: The continuing India business stood at Rs 187 crore in Q2FY22 (PY Rs 127crore) registering growth of 47 per cent. Total India business (continued and discontinued operations) stood at Rs 187 crore in Q2FY22 as compared to Rs 124 crore in Q2FY21 – a growth of 51 per cent. India Business contributed 22 per cent of the global revenue.

 Emerging markets business of the company stood at Rs 113 crore in Q2FY22 (PY Rs 169 crore). Emerging markets business contributed about 13 per cent of the global revenue.