Income from operations was up by 20 per cent to Rs 483 crore and operating profit by 25 per cent to Rs 120.4 crore, Wockhardt stated in a release here today.

During the year, Wockhardt's British subsidiary Wallis Laboratories Ltd turned around by achieving a net profit of over $ 0.79 million. Wockhardt said with the launch of its Ranitidine tablets in the US market, the joint venture for generic pharmaceuticals has started operations.

The company said in the next three years, the US joint venture will launch 12 to 15 products sourced from India, including products based on Wockhardt's patented novel drug delivery systems as well as off-patent generics.

During the past three months, Wockhardt submitted drugmaster files for two bulk activies to the US FDA and another five are likely to be submitted in the next few months.