Drug firm Wockhardt has for the first time in three years reported a consolidated net profit of Rs 19.21 crore for the December 2019 quarter mainly on account of an improvement in operational performance and cost rationalisation.

The company had posted a net loss of Rs 76.86 crore a year ago, Wockhardt said in a filing to the BSE.

Consolidated revenue from operations stood at Rs 869.15 crore for the quarter under consideration. It was Rs 1,045.86 crore for the same period a year ago.

While the company has been reporting steady EBITDA quarter by quarter, for the first time in the past three years, the company has bounced back into profit owing to a marked improvement in operational performance and cost rationalisation, Wockhardt said.

Total expenses stood at Rs 869.93 crore for the quarter under consideration. It was Rs 1,168.53 crore for the same period a year ago.

DRL loss

Dr Reddy’s Laboratories has suffered nearly Rs 570 crore loss for the quarter ended December 31 against Rs 485 crore profit after tax during the corresponding period of 2018-19, the company said on Monday.

Revenues were up 14 per cent to Rs 4,384 crore against Rs 3,850 crore a year ago.

Commenting on the results, co-chairman and MD, G.V. Prasad said, “The current quarter performance has been good across all our businesses and we achieved strong EBITDA margins.”