Shares of drug-maker Wockhardt spurted by over 10% in morning trade on the BSE today after the company reported a return to profit in the quarter ended March 31, 2011.
Following the good set of numbers, the scrip surged by 10.49% to touch an early high of Rs 372.85 on the BSE. The stock later lost some momentum and was trading at Rs 358.75, up 6.31% from the previous close.
Wockhardt has posted a consolidated net profit of Rs 161.83 crore for the fourth quarter ended March 31, on the back of improved efficiencies and launch of new products.
The company had reported a net loss of Rs 565.11 crore for the same period of the previous fiscal.
Meanwhile, the BSE benchmark Sensex was trading higher by 173.66 points at 18,315.06 at 10:58 am.