Wockhardt freezes at 5% lower circuit post weak operating performance in Q1

Shares of Wockhardt were locked in the 5 per cent lower circuit band at Rs 312.55 on the BSE on Monday despite turning profitable in the June quarter of FY21. The pharmaceutical company posted consolidated net profit of Rs 760 crore, as against net loss of Rs 36.88 crore in the year-ago quarter. The was mainly on account of exceptional items in connection with the transfer of a business comprising 62 products and Baddi facility to Dr Reddy's Laboratories, it said in a statement. In comparison, the S&P BSE Sensex was down 0.7 per cent at 12:04 pm.

The earnings, however,