Wockhardt on February 7 reported a net profit of Rs 14 crore for the quarter which ended on December 31, 2024. This marks a significant comeback from the Rs 83 crore loss which the pharma major reported for the corresponding quarter of the previous financial year.
Wockhardt on February 7 released its results for the third quarter of the current financial year. Its revenue from operations during the reported quarter stood at Rs 721 crore. This marks a rise of nearly 3 percent from the Rs 701 crore revenue from operations reported in Q3 of FY24.
The company's total expenses meanwhile declined to Rs 708 crore, as against Rs 796 crore in the same period last year.
Also read: Our LIVE blog on Q3 results
The company said that during the quarter, its Zaynich drug demonstrated the highest-ever efficacy by achieving a clinical cure rate of 96.8 percent. "The study enrolled 529 patients with complicated urinary tract infection (cUTI) and Acute Pyelonephritis (AP) and was conducted in US, Europe, LATAM, China, India, spanning 64 sites. In this study, Zaynich demonstrated superiority over gold standard meropenem, achieving a composite clinical and microbiology cure rate of 89.0% vs 68.4% respectively. These results were based on primary endpoints defined by both the US FDA and EMA. The combined efficacy of Zaynich is the highest ever recorded among recently approved novel antibiotics developed in more than a decade," Wockhardt said.
The pharma company further said that its insulin and glargine business demonstrated "remarkable and sustainable growth driven by increasing volumes accelerating our presence and reach across Emerging Markets." Wockhardt added that its domestic biotech business is poised for substantial growth.
Despite the positive results, the shares of the company dropped over 3 percent to trade at Rs 1,597 apiece, as seen at 2.57 pm. This comes a day after the stock hit its 52-week-high record of Rs 1,679.90 apiece. It is currently around 280 percent higher than its 52-week-low record of Rs 420 apiece.
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