Wockhardt posts Q3 net loss of Rs 53.9 crore
The company had posted a consolidated net profit of Rs 72.04 crore in the same quarter last fiscal, Wockhardt Ltd said in a BSE filing.
By PTI | Updated:
NEW DELHI: Wockhardt Ltd on Tuesday reported a consolidated net loss of Rs 53.91 crore for the third quarter ended December 31, 2016, hit by subdued US business and demonetisation in India.
The company had posted a consolidated net profit of Rs 72.04 crore in the same quarter last fiscal, Wockhardt Ltd said in a BSE filing.
Net sales during the quarter under review were down 7.35% at Rs 995.56 crore as compared to Rs 1,074.51 crore in the year-ago period, it added.
“The company's performance during the quarter was affected by subdued business in the US market, demonetisation in India and continued remediation costs,” it said.
India business declined by 18%compared to the preceding quarter.
The company had posted a consolidated net profit of Rs 72.04 crore in the same quarter last fiscal, Wockhardt Ltd said in a BSE filing.
Net sales during the quarter under review were down 7.35% at Rs 995.56 crore as compared to Rs 1,074.51 crore in the year-ago period, it added.
“The company's performance during the quarter was affected by subdued business in the US market, demonetisation in India and continued remediation costs,” it said.
India business declined by 18%compared to the preceding quarter.
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