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Our Bureau

Mumbai , July 28

Wockhardt Ltd has posted a net profit of Rs 49.5 crore for the second quarter ended June 30, down 38 per cent from Rs 79.9 crore for the quarter ended June 30, 2005. Total income has increased to Rs 292.7 crore (Rs 278.1 crore). The group posted a net profit of Rs 63.4 crore, down 18 per cent (Rs 77.5 crore). Total income has increased to Rs 414.5 crore(Rs 380.4 crore).

Profit after tax declined 18 per cent largely due to a 77-per-cent increase in research expenditure, incurred on the commissioning of Wockhardt Biotech Park, a note from the company said.

"We are investing significantly in research and manufacturing in India with a view to expand our US presence," said the Wockhardt Chairman, Mr Habil Khorakiwala, in a statement issued here on Friday.

Wockhardt shares were marginally up at Rs 341.65 on the BSE.

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