During the nine-month period under review, net profit rose by 43.8 per cent to Rs 51.9 crore while turnover rose by 39 per cent to Rs 424.1 crore over its corresponding period, a Wockhardt release said.

According to Wockhardt chairman Habil F Khorakiwala,"Our exports during the past nine months have grown by 34 per cent and international business now represents 20 per cent of the total income. In the domestic markets, our new Hepatitis-B vaccine Biovac-B continues its good performance and so are the other new products launched during the year."

Interest cost during the quarter declined by 9.5 per cent to Rs 1.9 crore while depreciation costs increased by 25 per cent to Rs 2 crore over the corresponding quarter. On the R&D front, Wockhardt has invested 5.4 per cent of its sales in R&D, during the first nine months of the year. During the quarter, Wockhardt scientists filed one US patent for a product involving novel drug delivery systems, taking the total number of Wockhardt patents filed in the last two years are now 23, the release added.

The company plans to launch three other products in the US market in 2001 through its joint venture with Sidmak Laboratories. The company had earlier launched cardiac drug - enalapril maleate tablets - which was its second product to be launched in USA.

During the quarter, the company's operating and net margin improved to 24.8 per cent and 14.7 per cent respectively from 24.6 per cent and 13.8 per cent in the corresponding quarter.