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This is an archive article published on February 14, 2012

Wockhardt shares zoom 8% on Q3

Wockhardt's profit increased by 50.21 per cent for the quarter ended December.

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Shares of drug firm Wockhardt Ltd today rose by 8 per cent after the company’s profit increased by 50.21 per cent for the quarter ended December 31,2011.

Cheering the smart results,shares of the company started the day on a bullish note and further gained 8 per cent to touch a 52-week high of Rs 478 on the BSE.

At the National Stock Exchange also,the scrip surged by 7.93 per cent to a one-year high of Rs 477.95.

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Wockhardt yesterday reported an increase of 50.21 per cent in consolidated net profit to Rs 212.81 crore in the third quarter ended December 31,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.

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.

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