Wockhardt net up 17%

BS 200 SCORECARD

Wockhardt has posted an increase of 17 per cent in net profit for the quarter ended September 30, 2005 at Rs 65 crore against Rs 55.8 core recorded in the corresponding quarter last year. Total income has increased from Rs 225.2 crore in Q3-04 to Rs 260.9 crore for the quarter ended September 30, 2005.

Operating profit for the quarter under review grew 9 per cent to Rs 88 crore from the previous corresponding quarter. Total sales during the quarter increased 12 per cent to Rs 359 crore.

Wockhardt's US business grew by 41 per cent in the quarter under review. The company entered into a strategic alliance with Perrigo for the distribution of famotidine and ranitidine. Commercial supplies of cefuroxime axetil also started during the the quarter under review.

While the revenue from Europe grew by 11 per cent in local currency during the quarter for the first time. Wockhardt UK had launched a new product - terbinafine, on the first day of the expiry of the patent of the molecule. The German business also posted a 26 per cent growth.