Mumbai: "The company''s core objective of enhancing shareholder value achieved a significant milestone with Wockhardt''s market capitalisation crossing the $1 billion mark on the back of our sustained robust financial performance," announced Habil Khorakiwala, chairman of pharmaceutical and biotechnology major Wockhardt Ltd, while presenting the company''s Q2 2005 and half yearly consolidated results.

Wockhardt has reported a 55 per cent rise in net profit for the second quarter ended June 30, 2005. Sales, at Rs377 crore, showed a 29 per cent increase over the corresponding quarter of 2004.

Operating profit increased by 39 per cent at Rs96 crore during the quarter. Operating margins improved by 180 basis points to 25.4 per cent.

Half year net profit amounted to Rs119 crore on sales of Rs687 crore.

Incidentally, the Wockhardt Biotech Park has also received the GMP (good manufacturing practices) certification for its Wepox facility from the World Health Organisation (WHO) during the quarter.