Wockhardt, Cipla, Strides Arcolab quaterly results

CORPORATE SCORECARD

Wockhardt net jumps 16-fold

Wockhardt reported a 16-fold jump in net profit to Rs 66 crore in Q1 FY07 compared with Rs 3.7 crore profit during the corresponding period in the previous year. "Our recent Irish acquisition has also been accretive to Wockhardt's profit. Besides, our research efforts have shown remarkable success, a classic example of which was our filing of over 40 patents and the five approvals that we received in the past few weeks alone," said Chairman Habil Khorakiwala.

Consolidated sales stood at Rs 523 crore for the period, with 49 percent growth over Rs 352 crore for the corresponding quarter of 2006. Operating profit stood at Rs 116 crore for quarter ended March 2007, compared with Rs 68.9 crore for the corresponding previous year period, a growth of 68 per cent.

Cipla reports 34% profit decline

Pharma major Cipla reported a 34 per cent dip in net profit at Rs 125.73 crore for the quarter ended March 31, 2007, as compared with a net profit of Rs 190.77 crore in the corresponding period of the last financial year. The company has stated increased material costs and overheads as reasons for the decline in profits.

Strides Arcolab net down 17.44%

Facing stiff challenge in the US, the Bangalore-based Strides Arcolab has seen its net profit decline by 17.44 per cent to Rs 9.40 crore in Q1 FY07 compared with the corresponding period last financial year. This is due to an increase in the number of players supplying cheap AIDS drugs, the area in which Strides is active in the US.