Wockhardt Q3 net up 50.2% at Rs 212.8 cr
Apple Inc. has been trading the position as most valuable company in the world with Exxon Mobil Corp. since last summer, but the latest rally has made it 17 per cent more valuable than the oil company.
Drug firm Wockhardt reported a 50.2 per cent jump in the net profit to Rs 212.81 crore for the quarter ended December 2011. This was on the back of strong sales in the US market.
The company had posted a net profit of Rs 141.67 crore for the corresponding period last fiscal, Wockhardt Ltd said
in a filing to the BSE.
Net sales of the company rose to Rs 1,208.67 crore in the quarter ended December 31, 2011, from Rs 950.80 crore in the
same period last fiscal.
Wockhardt Chairman Habil Khorakiwala said that the the company exhibited robust growth worldwide and US operations had surpassed all records by crossing the USD 100 million-mark in a single quarter.
The company reported an operating profit margin of 26.8 per cent against 22.5 per cent in December 2010 quarter.
For the nine months period ended December 31, 2011, the company posted a net profit of Rs 534.35 crore, while it had
reported a net loss of Rs 71.31 crore for the same period last fiscal.
Shares of Wockhardt settled at Rs 442.45 a piece on the BSE today, up 0.73 per cent from their previous close.