Wockhardt Ltd Reports Narrowed Net Loss of Rs 169 Crore in Q4 FY24; Announces Reappointment of Executive Chairman

 

Wockhardt Ltd reported a consolidated net loss of Rs 169 crore for the quarter ending March 31, 2024, showing a narrowing compared to the Rs 108 crore loss in the same period the previous year.

Revenue saw a 3 percent increase, rising from Rs 678 crore to Rs 700 crore.

However, the company's EBITDA recorded a loss of Rs 103 crore, contrasting with an EBITDA profit of Rs 3 crore from the previous year.

In other news, Wockhardt has re-appointed Dr. Habil Khorakiwala as Executive Chairman for a new five-year term, starting from March 1, 2025, to February 28, 2030.

Additionally, the board has approved raising funds through the issuance of equity shares, securities convertible into equity shares, or a combination thereof, through various methods including public and/or private offerings, Qualified Institutions Placement, preferential allotment, or any other legally permitted method.