Business Daily from THE HINDU group of publications
Thursday, Jul 26, 2007
ePaper
Business Daily from THE HINDU group of publications Thursday, Jul 26, 2007 ePaper |
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Corporate Results
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Pharmaceuticals Wockhardt consolidated net up 62%
Our Bureau Mumbai, July 25 Wockhardt Ltd has posted a 62 per cent growth in its consolidated profit after tax, at Rs 102.4 crore for the quarter under review, compared with Rs 63.4 crore for the quarter ended June 30, 2006. With a presence in key European markets of the UK, France and Germany, Wockhardt’s business from this region accounts for over 50 per cent of the company’s sales, said the company’s Chairman, Mr Habil Khorakiwala. Also contributing to the robust performance was the India branded medicines business that grew by 25 per cent. The company’s total income increased from Rs 414.5 crore for the quarter ended June 30, 2006, to Rs 632.8 crore for the quarter ended June 30, 2007. Europe continues to be Wockhardt’s single largest market accounting for 56 per cent of consolidated sales, a note from the company said. Wockhardt’s US finished dosage forms business grew by 51 per cent in the quarter under review, driven by four product launches in the quarter. The company posted a 40 per cent growth in its standalone net profit at Rs 69.1 crore for the quarter ended June 30, 2007, compared with Rs 49.5 crore in the corresponding period of the previous year. Total income increased from Rs 293.1 crore for the quarter ended June 30, 2006, to Rs 306.9 crore for the quarter ended June 30, 2007. Its shares were marginally down on the BSE at Rs 382.90.
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