Drug firm Wockhardt on Saturday reported a consolidated net profit of Rs 760 crore for the June quarter, mainly on account of exceptional items in connection with the transfer of a business comprising 62 products and the Baddi facility to Dr Reddy’s Laboratories.

The company had suffered a net loss of Rs 36.88 crore for April-June 2019-20, Wockhardt said in a filing to the BSE.

Total income stood at Rs 606 crore during the quarter under review. It was Rs 734 crore in the year-ago period, the filing added.

Wockhardt launched a chemical entity (NCE) during the quarter in the Indian pharma market. Products have been launched under the tablet and injection category under the brand name “Emrock O and Emrock”, the filing said.

The focus on strategic R&D initiatives of the company in the global arena continued to remain one of the key priorities, it added.

The divestment of business undertakings to Dr Reddy’s Laboratories was accomplished during the quarter and the company received Rs 1,483 crore as part of the deal.

“Rs 43 crore out of the Rs 67 crore deposited by the purchaser in an escrow account, towards adjustments for, inter alia, net working capital, employee liabilities and certain other contractual and statutory liabilities etc has since been settled and received,” it added.

Suzlon loss widens

Suzlon Energy on Saturday reported the widening of its consolidated net loss to Rs 398.86 crore in the April-June quarter compared with a net loss of Rs 336.88 crore in the year-ago period mainly because of lower revenues.The total consolidated income of the company declined to Rs 528.22 crore in the quarter under review from Rs 851.09 crore in the same period last year.

On the Covid-19 situation in the country, the company stated that the group’s ability to generate sufficient cash flows to meet its financial obligations in the foreseeable future could be impacted by the circumstances arising from the pandemic.

Suzlon Energy chief operating officer V. R. Tanti said the pandemic and the implementation of the debt restructuring, which was completed on June 30, 2020, impacted the wind turbine generator business in the first quarter.