Wockhardt extends Monday's gains

Meanwhile, the S&P BSE Sensex was down 55.84 points or 0.28% at 19,974.93.

On BSE, 65,000 shares were traded in the counter as against average daily volume of 85,887 shares in the past one quarter.

The stock hit a high of Rs 1,304.20 and a low of Rs 1,284 so far during the day. The stock had hit a record high of Rs 2,166.05 on 12 March 2013. The stock had hit a 52-week low of Rs 771.55 on 28 May 2012.

The stock had underperformed the market over the past one month till 27 May 2013, sliding 31.25% compared with the Sensex's 3.86% rise. The scrip had also underperformed the market in past one quarter, declining 34.12% as against Sensex's 4.59% gain.

The large-cap company has equity capital of Rs 54.79 crore. Face value per share is Rs 5.

Shares of Wockhardt have risen 4.61% in two trading sessions from a recent low of Rs 1,229.70 on 24 May 2013, after the company during trading hours on Monday, 27 May 2013, reported turnaround Q4 results. The stock had risen 3.88% to settle at Rs 1277.50 on Monday, 27 May 2013.

Wockhardt reported consolidated net profit of Rs 334.76 crore in Q4 March 2013, as against net loss of Rs 191.64 crore in Q4 March 2012. Net sales rose 26.4% to Rs 1485.50 crore in Q4 March 2013 over Q4 March 2012. Wockhardt reported an exceptional item loss of Rs 10.72 crore in Q4 March 2013, as against loss of Rs 396 crore in Q4 March 2012.

Wockhardt's consolidated net profit galloped 365.2% to Rs 1594.12 crore on 28.9% growth in net sales to Rs 5609.42 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012). There was an exceptional item gain of Rs 61.52 crore in FY 2013, as against loss of Rs 473.77 crore in FY 2012.

Wockhardt is a high-technology intensive global pharmaceutical and biotechnology company with multi-disciplinary and innovative R&D programmes. It has three research centres globally and manufacturing facilities across India, USA, UK and Ireland. The company has a significant presence in USA, Europe and India, with 80% of its global revenues coming from international businesses.

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