Wockhardt recovers after falling over 7% post disappointing Q4 results

NEW DELHI: Wockhardt recouped losses after falling as much as 7.3 per cent in trade on Friday, even though the pharma major reported a 54 per cent decline in consolidated net profit to Rs 34 crore for the fourth quarter ended March, weighed by a fall in its US business.

The company had posted a net profit of Rs 74 crore a year ago.

At 09:40 a.m.; Wockhardt was trading 2.9 per cent lower at Rs 1392. It hit a low of Rs 1329.90 and a high of Rs 1414.70 in trade today.

Net sales rose to Rs 1,079 crore compared with Rs 1,038.7 crore during the same period a year ago, Wockhardt said in a filing to the BSE.

The Mumbai-based company said its US business, which made up 27 per cent of the company's global revenues in the fourth quarter, declined 21 per cent, PTI reported.