Wockhardt rises on healthy Q3 nos
Wockhardt is trading higher by 5.4% at Rs 467 on reporting 51% year-on-year (yoy) growth in net profit at Rs 213 crore for the third quarter ended December 2011, on the back of strong sales in the US market. Net sales grew 27% at Rs 1,209 crore on y-o-y basis. The profit margins have improved by more than 300 basis points during the recently concluded quarter.
"The company is exhibiting robust growth worldwide and our US operations have for the first time surpassed all records by crossing the $100 million-mark in a single quarter," said Habil Khorakiwala, chairman of Wockhardt, commenting on the results.
A combined 260,000 shares have changed hands on the counter in morning deals on the NSE and BSE.