Indian drum maker Wockhardt has reported consolidated net profit of Rs 142 crore for the quarter ended December 2010 as against loss of Rs 181 crore in same period the previous year.
Consolidated net sales went up by 7% at Rs 951 crore from Rs 889 crore (YoY). Operating profit margin improved at 25.6% versus 15%.
The company has received exceptional gain of Rs 16.5 crore versus loss of Rs 239.3 crore, which included amount received on release of Escrow towards divestment of Animal Health biz, receipt of claim of insurance, reversal of excess provision made on account of settlement of loan/disputed derivative liability and loss of assets.
There is no derivative liability accounted for this quarter as the contracts are disputed and amount is ascertainable.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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