Wockhardt shows poor health
By
Research Desk
about 11 years ago
Wockhardt is down in the deep red today morning, currently 4.5% down at Rs.667.90, with an intra day low at Rs.641.
The stock has slipped into the red after the company reported a 78% (YoY) fall in consolidated net profit at Rs.74 crore. Its net sales for the quarter also dropped from Rs.1485 crore to Rs.1039 crore. The company has blamed this poor show on the various regulatory issues with US and UK health regulators which hampered day-to-day functioning of the company.
It ended FY14 with a 47% drop in consolidated net profit at Rs.841 crore on a 14% fall in net sales at Rs.4830 crore.