Wockhardt drops after Q4 numbers

Wockhardt drops after Q4 numbers

Wockhardt dropped 0.69% to Rs 342.95 at 15:01 IST on BSE, even as it reported 22.8% growth in consolidated net profit to Rs 106.90 crore in Q4 December 2007 over Q4 December 2006.

The results were announced during trading hours today, 20 February 2008.

Meanwhile, BSE Sensex was down 502.97 points or 2.78% to 17,572.86, on weak cues from the global markets.

On BSE, 22,018 shares were traded in the counter. The scrip had an average daily volume of 45,390 shares in the past one quarter.

The stock hit a high of Rs 348 and low of Rs 339.95 so far during the day. The stock had a 52-week high of Rs 450.05 on 23 March 2007 and a 52-week low of Rs 295.05 on 22 January 2008.

The mid-cap scrip had underperformed the market over the past one month till 19 February 2008, declining 4.56% compared to the Sensex’s return of 2.67%. It had also underperformed the market in the past one quarter, declining 15.70% compared to Sensex’s decline of 2.83%.

The company’s current equity is Rs 54.72 crore. Face value per share is Rs 5.

The current price of Rs 342.95 discounts its Q3 September 2007 annualized EPS of Rs 21.54, by a PE multiple of 15.92.

Wockhardt’s consolidated total income rose 43.3% to Rs 765.70 crore in Q4 December 2007 over Q4 December 2006.

On 2 January 2008, Wockhardt launched its cetirizine tablets in the US, following approval from the US Food and Drug Administration.

Wockhardt has presence in different drug segments like inflammation and pain, anti-infective, cough syrups, corticosteroids and medical nutrition.