The Hindu

Wockhardt second quarter net zooms

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Wockhardt has reported a multi-fold jump in consolidat­ed net profit at Rs.107.59 crore for the second quarter ended September 30, mainly on account of robust sales and lower tax expense.

The company had posted a net profit of Rs.3.63 crore during the correspond­ing period of the previous fiscal, Wockhardt said in a filing to BSE.

Consolidat­ed total income from operations also rose to Rs.1,231.65 crore for the quarter under review as against Rs.1,029.16 crore for the same period a year ago.

While the U.K. business of the company recorded a growth of 88 per cent during the quarter, India business grew 22 per cent.

The U.S. business also witnessed a growth of 2 per cent for the second quarter of this fiscal, Wockhardt said.

The company filed 147 patents during the July-September quarter, taking the cumulative filings to 2,469.

It was granted 44 patents during the said quarter and currently holds 411 patents, it added.

Apollo Hospitals

Apollo Hospitals Enterprise Ltd has reported a marginal rise in its net profit at Rs.93.67 crore for the quarter ended September 30, 2015 when compared with Rs.91.5 crore in the year-ago period.

Though its gross profit rose 12 per cent, higher depreciati­on and finance costs had an impact on the bottomline.

Its profit before other income, finance, depreciati­on and amortizati­on stood at Rs.193.16 as against Rs.172.59 crore, a growth of 12 per cent.

Depreciati­on and amortizati­on expenses stood at Rs.46.19 crore as against Rs.38.85 crore, while finance costs were higher at Rs.30.85 crore when compared with Rs.20.14 crore.

Total revenues of the company grew by 19 per cent at Rs.1367.33 crore when compared with Rs.1152.85 crore in the period under reference. On a consolidat­ed basis, the net profit of the company stood at Rs.109.5 crore during the September quarter when compared with Rs.88.1 crore in the year-ago period, posting a rise of 24 per cent. Revenues grew by 18 per cent at Rs.1552.6 crore as against Rs.1315 crore.

CORPORATE

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“The Ministry of IT has collaborat­ed with the Apollo Hospitals to launch tele-medicine services under which people can consult doctors through video link and also order generic drugs online. “Homecare will play a very significan­t role in the healthcare industry in the next few years and we have now created a company under AHEL with a separate operationa­l team who will drive this pan-India with best-in-class proto cols and services,” Dr. Prathap C Reddy, Chairman of the company said.

J&K Bank

J&K Bank reported a 13.5 per cent increase in its net profit at Rs.195.62 crore for the second quarter ended September 30.

The bank had posted a net profit of Rs.172.30 crore in the correspond­ing quarter last fiscal, J&K Bank said in a regulatory filing.

The total income of the lender declined marginally to Rs.1,847.84 crore during the quarter from Rs.1,883.16 crore over the correspond­ing period of 2014-15 fiscal.

During the quarter, gross non-performing assets (NPAs) increased to 6.46 per cent from 4.73 per cent at the end of second quarter of 201415. At the same time, net NPA of the bank also rose to 2.78 per cent from 2.46 per cent of the total assets.

During the first half of 201516, the bank clocked 17.2 per cent rise in its net profit to Rs.354.38 crore compared with Rs.302.35 crore in the same period a year ago.

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