Wockhardt shares tank over 13% as Q3 net plunges

Shares of drug firm Wockhardt slumped more than over 13 per cent on the bourses today after the company reported 82.44 per cent decline in consolidated net profit for the third quarter ended December 31.
After making a weak opening, shares of the company tumbled further by 13.31 per cent to hit 52-week low mark of Rs 758.80 on BSE.
At NSE, shares of the pharma firm tanked 13.35 per cent to Rs 760.
Wockhardt yesterday reported 82.44 per cent decline in consolidated net profit at Rs 60.97 crore for the third quarter ended December 31, 2015.
It had posted a net profit of Rs 347.25 crore in the October-December quarter of 2014-15.

Wockhardt's net sales during the quarter under review were at Rs 1,075.77 crore, down 22.16 per cent from Rs 1,382.05 crore in the year-ago period, the company had said in a filing to BSE.