In the third quarter, Wockhardt reported a net profit of Rs 1.77 crore

In the third quarter, Wockhardt reported a net profit of Rs 1.77 crore

“The objective of the Issue is to, inter alia, meet the company’s financing needs for repayment of subordinated debt due, financing research and development initiatives, general corporate purposes and/or such other use of proceeds as may be permitted under the applicable laws,” it added.

Wockhardt Pharmaceuticals announced a combined net profit of Rs 1.77 crore for the third quarter ended December 31, 2021 on Thursday. In the same time of the previous fiscal year, the company made a net profit of Rs 32.4 crore. Wockhardt stated in a regulatory filing that income from continuing operations increased to Rs 853.89 crore in the third quarter, up from Rs 764.02 crore in the previous fiscal’s October-December period. The company stated that it intends to raise up to Rs 1,000 crore through a rights offering.

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