Wockhardt Q3 net up 13.85% at Rs 74cr

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Wockhardt has declared its third quarter results. The company's Q3 net profit was up 13.85% at Rs 74 crore (Rs 740 million) from Rs 65 crore (Rs 650 million).

Its net sales were up 21.84% at Rs 437.7 crore (Rs 4.37 billion) from Rs 359.5 crore (Rs 3.59 billion).

Its OPM was down at 22.15% versus 24.34%. The net profit margin stood at 16.89% versus 18.08%.

Q3 Highlights

• Domestic Formulations grew at 36%
• US formulations business grew 21%; Europe by 13%
• Made 2 acquisitions- Dumex in India and Pinewood in Ireland

According to CNBC-TV18 estimates, the company's net profit was expected to go up at Rs 73.5 crore (Rs 735 million) from  Rs 65 crore (Rs 650 million).

Its revenues were seen going up at Rs 423.86 crore (Rs 4.23 billion) from Rs 359.5 crore (Rs 3.59 billion).