Wockhardt jumps over 10% on return to profit in Q4

Shares of drug-maker Wockhardt spurted over 10 per cent in morning trade on the Bombay Stock Exchange (BSE) on Friday after the company reported a return to profit in the quarter ended March 31.

Following the good set of numbers, the scrip surged by 10.49 per cent to touch an early high of Rs 372.85 on BSE. The stock later lost some momentum and was trading at Rs 358.75, up 6.31 per cent from the previous close.

Wockhardt has posted a consolidated net profit of Rs 161.83 crore for the fourth quarter ended March 31, on the back of improved efficiencies and launch of new products. The company had reported a net loss of Rs 565.11 crore for the same period last year.

Meanwhile, benchmark Sensex was trading higher by 173.66 points at 18,315.06 at 10.58 am.