Wockhardt Q2 Results: Stock surges after drugmaker reports net profit from loss last year

Shares of Wockhardt Ltd. surged as much as 12% on Monday, November 3, in response to its quarterly results for the September quarter.

The company reported a net profit of ₹78 crore, compared to a net loss of ₹22 crore that it had reported during the same quarter last year.

The company's revenue though, declined by 3.3% from last year to ₹782 crore, although the company's operating performance was strong.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the stock increased by 62% on a year-on-year basis to ₹178 crore, while margins expanded by over 900 basis points to 22.8% from 13.6% during the year-ago quarter.

Shares of Wockhardt are trading 10.4% higher after the results announcement at ₹1,415. The stock is still down 2.5% on a year-to-date basis.