Wockhardt Q3 net dips 82% on lower sales

Revenue declined 22% to Rs 1,076 cr as US business continues to be impacted due to regulatory concerns

Wockhardt’s net profit declined 82 per cent to Rs 61 crore as sales fell in the December quarter over the same period last year. It had profit of Rs 347 crore in the same period.

Revenue declined 22 per cent to Rs 1,076 crore as US business continues to be impacted due to regulatory concerns. The company's US business declined a percentage point in Q3 and has so far declined eight per cent in nine months since March. Irish business also de-grew eight per cent because of currency depreciation. Wockhardt's Indian and emerging market segment however continued to show growth.

Domestic business was up 16 per cent and the company launched ten products in third quarter.