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Wockhardt stock drops 9% after weak Q4FY18 numbers

At EBITDA level, the company reported loss or Rs6.1cr in Q4FY18 vs. loss of Rs164.3cr in Q4FY17.

Wockhardt stock dropped 9% even after the company’s Q4FY18 sales rose 17.9% to Rs1,018.3cr vs. Rs863.5cr in Q4FY17. It reported a net loss of Rs154.55cr in Q4FY18 vs. Rs40.76 in Q3FY18 and loss of Rs174.7.2 in Q4FY17.

At EBITDA level, the company reported loss or Rs6.1cr in Q4FY18 vs. loss of Rs164.3cr in Q4FY17.

The company has said that it continues to focus on cost containment and rationalization, however, cost of on-going remedial measures, volatility in various currencies like GBP, Euro and USD impacted the business.

The scrip opened at Rs795.10 and has touched a high and low of Rs795.10 and Rs717.75 respectively.

Wockhardt is a Mumbai based pharma company having a presence in formulations, nutrition products, vaccines and Active Pharmaceutical Ingredients (API).