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Khorakiwala: Looking ahead
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July 19: Wockhardt Ltd today reported a 72 per cent rise in net profit at Rs 79.9 crore for the second quarter ended June 30 compared with Rs 46.4 crore in the corresponding previous quarter.
On a consolidated basis, the group’s earnings grew 55 per cent to Rs 77.5 crore from Rs 50.1 crore in the year-ago period.
Wockhardt said on a stand-alone basis, total income swelled to Rs 278.1 crore from Rs 209.2 crore a year ago. Total income for the group, on the other hand, stood at Rs 380.4 crore.
“The sales and profit numbers reflect Wockhardt’s endeavour to consistently deliver a strong performance despite the challenges in the market,” said chairman Habil Khorakiwala.
Wockhardt’s market capitalisation has crossed the $1-billion mark.
It is evaluating possibilities of acquiring companies in the US and Europe. It has raised $110 million through a foreign currency convertible bond last year.
Wockhardt said it is the only pharmaceutical company in India to be selected as a Business Superbrand by a UK-based organisation tracking reputed consumer and corporate brands in 45 countries, including the US, France, Germany, Australia and Canada.
The pharmaceutical company’s international sales grew 34 per cent during the quarter. Of this, US sales posted a 90 per cent growth driven by a three-fold increase in formulations business. Sales in the EU grew 21 per cent and 43 per cent in the rest of the world.
Wockhardt’s German subsidiary, Esparma had launched anti-epileptic lamotrigine on the first day following its patent expiry in the German market on June 1. Manufacture of some of Esparma’s products was also shifted to Wockhardt’s Wrexham plant during the quarter.
Texmaco net
Engineering company Texmaco Ltd has posted a 274 per cent jump in net profit at Rs 3.29 crore. Total income has increased 97 per cent to Rs 85.29 crore, while gross profit zoomed 143 per cent to Rs 4.44 crore.
The engineering division had earned a revenue of Rs 61.90 crore, while the steel foundry unit raked in Rs 21.31 crore.
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