Wockhardt - Q2 FY13 Results First Cut - Microsec

Wockhardt Ltd posted its Q2 FY13 results on 14 Nov 2012. The top line jumped by 21.33% yoy basis on account of the 22% (in $ term) growth in US (4 product launched in Q2 FY13), 24% (in Euro term) growth in Ireland (6 product launched), 7% (in Pound term) growth in UK while India contributed 3% growth due to the restructuring of field force across the region. Furthermore, the EBITDA margin & Gross margin improved by 925 basis points and 889 basis points on yoy basis as a result of adjustment of inventory, better quality product mix and increasing business from US. In addition to that, 2190 basis point growth in Net Profit margin is mainly driven by forex gain of Rs.367.6 Mn (all open position, not involve in hedging), Rs.382.5 Mn of exceptional items and Rs.171.2Mn of interest income (without these 3 items, the Net Profit margin increased by 532 basis points on YoY basis and decreased by 109 basis points on QoQ basis).

Source : Equity Bulls

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