Wockhardt Q4 net up 20pc at Rs 87cr

New Delhi, Feb 22 (UNI) Pharmaceutical and biotechnology major Wockhardt Ltd today reported a 20 per cent growth in its net profit at the company's Rs 87 crore for the fourth quarter ended December 31, 2006.

Operating profit climbed 44 per cent to Rs 122 crore.

While, consolidated sales at Rs 526 crore showed a 44 per cent growth over the corresponding quarter of 2005.

The board of directors at a meeting here recommended a dividend of 100 per cent, subject to shareholders' approval.

''The year was marked by investments for the future. We acquired Pinewood, a company with leadership in Ireland and significant business in UK and bought heritage brands like Farex and Protinex in India,'' Wockhardt chairman Habil Khorakiwala said.

''We strengthened our US portfolio with 26 new product filings.

We believe these investments will accelerate our growth during 2007.'' Investment in R&D rose 33 per cent in 2006. Wockhardt filed 200 patents during the year.

For the full year, sales rose 22 per cent to Rs 1,729 crore.

Operating profit climbed 22 per cent to Rs 400 crore. Net profit, before exceptional items, improved by 17 per cent to Rs 302 crore.

UNI