Wockhardt Q3 net profit doubles to Rs 428 cr

Pharmaceutical company Wockhardt 's consolidated net profit doubled to Rs 428 crore in the third quarter of financial year 2012-13 from Rs 213 crore in a year ago period.

Net profit included one-time gain of Rs 10.6 crore on divestment of nutrition business.

Consolidated net sales jumped nearly 18.7 percent to Rs 1,435 crore from Rs 1,208 crore during the same period.

Other income increased to Rs 14 crore from Rs 8.5 crore YoY.

Earnings before interest, tax, depreciation and amortisation (EBITDA) surged 45 percent YoY to Rs 544.8 crore and operating profit margin rose by 700 basis points YoY to 38 percent in the third quarter.

Wockhardt reported a forex loss of Rs 20.4 crore in the December quarter as against gain of Rs 29.6 crore in the corresponding quarter of previous fiscal.

However, shares slipped nearly 2 percent to Rs 1,734 at 13:31 hours IST.

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