Shares of drug firm Wockhardt today slumped over 13 per cent on the bourses after the company reported an 82.44 per cent decline in consolidated net profit for the third quarter.
The stock plummeted 13.09 per cent to end at Rs 760.80 on BSE. During the day, it plunged 19.31 per cent to Rs 706.35 -- its 52-week low.
On NSE, shares of the company tanked 13.11 per cent to end at Rs 762.10.
Following the heavy selling pressure, the company suffered a loss of Rs 1,265 crore to Rs 8,406.91 crore in market capitalisation.
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.
