India's Wockhardt falls on quarterly net loss

Wockhardt

04/11/2022 09:41

** Shares of Workhardt Ltd  WCKH.NS  fall as much as 2.3% to
236 Indian rupees, biggest pct loss since Oct. 12
    ** Co reported a consolidated net loss of 2.07 bln
rupees($25.11 mln) in Q2, compared with a profit of 370 mln
rupees a year ago
    ** WCKH's Sept-qtr consolidated sales fell 21.2% to 6.79 bln
rupees from a year ago
    ** Co said that the U.S. business was impacted by price
erosion and supply disruptions
    ** The pharmaceutical co has now engaged multiple U.S. FDA
approved manufacturing partners to manufacture various products
for sale in U.S./ North America under the same brand, the press
release said
    ** Stock set to snap four sessions of gains
    ** More than 1 mln shares traded, 2.1x times their 30-day
moving avg from 494,102    
    ** Up to last close, stock down 36.6% YTD, against the Nifty
Pharma Index  .NIPHARM  which was 4.7% down
($1 = 82.4260 Indian rupees)
 (Reporting by Akansha Victor in Bengaluru)
 ((Akansha.Victor@thomsonreuters.com; Mobile: +919654878265;))