Wockhardt Net Up 43% To Rs 102 Crore

Wockhardt has posted a net profit of Rs 102.2 crore for the year ended December 31 2001, up 42.7 per cent compared with Rs 71. 6 crore for the year ended December 31 2000. Net sales rose 16 per cent to Rs 649.4 crore compared with Rs 558.5 crore for the same period.

Exports for the year were up by 41 per cent to Rs 171 crore driven by formulations, which accounted for one-third of the exports The company's international business including its UK subsidiary Wallis, now comprise 35 per cent of its turnover. The consolidated earning per share for the year is Rs 28.40, while the consolidated profit after tax Rs 108.2 crore.

Wockhardt has spend over Rs 40 crore in research and development, which is 6.2 per cent of its revenues, and has also filed an investigational new drug (IND) application in anti inflammation and sepsis. Its maiden biotech product, hepatitis B vaccine Biovac B, has crossed Rs 30 crore in sales. "Wepox or erythropoietin has captured 25 per cent of the market share within the first nine months, " said the company press release.

For the quarter ended December 31 2001, the net profit was Rs 32.5 crore , up 55.5 per cent from Rs 20.9 crore. Net sales for the same period was up 19.23 per cent to Rs 177.9 crore from Rs 149.2 crore.