Pharma major Wockhardt Ltd has posted a 13.3 per cent increase in net profit at Rs 34.9 crore (Rs 349 million) for the second quarter ended June 30, 2003 as against Rs 30.8 crore (Rs 308 million) for the corresponding quarter last fiscal.
The income from operations recorded a growth of 4.6 per cent at Rs 202.6 crore (Rs 2,026 million) for the quarter when compared with Rs 193.7 crore (Rs 1,937 million) for the same quarter last year, the company said in a release in Mumbai on Tuesday.
For the first half ended June 2003, the net profit declined by 20.5 per cent at Rs 43.4 crore (Rs 434 million) [Rs 54.6 crore (Rs 546 million) in H1 of the last year], while the income from operations also decreased by 1.5 per cent at Rs 353.6 crore (Rs 3,536 million).
Habil Khorakiwala, chairman, Wockhardt, said, "We have posted a robust 36 per cent growth in exports during the second quarter by leveraging the India advantage that we enjoy."
The exports stood at Rs 68 crore (Rs 680 million) for the quarter, while formulations grew by 38 per cent and active pharmaceutical ingredients by 34 per cent.
Wockhardt made eight new filings in the United States and Europe in 2003. The domestic growth was powered by the power brands, which improved their market shares and posted a 16 per cent growth during the quarter.