Wockhardt Ltd shares rose 8 per cent today after the company’s profit increased by 50.21 per cent for the third quarter ended December 31, 2011.
Cheering the smart results, the scrip started the day on a bullish note and further gained 8 per cent to touch a 52-week high of Rs 478 on the BSE. On the National Stock Exchange too, the scrip surged 7.93 per cent to a one-year high of Rs 477.95.
The company had yesterday reported an increase of 50.21 per cent in consolidated net profit to Rs 212.81 crore for the third quarter ended December 31, 2011 on the back of strong sales in the US market. It company had posted a net profit of Rs 141.67 crore for the corresponding period last fiscal.
Net sales rose to Rs 1,208.67 crore from Rs 950.80 crore.