Wockhardt shares down nearly 4% as Q1 net profit dives

Shares of drug firm Wockhardt on Tuesday fell nearly 4 per cent after the company reported a fall of 82.65 per cent in consolidated net profit for the first quarter ended June 30.

The scrip went down 3.64 per cent to end at Rs 781.15 on BSE. During the day, it shed 5.44 per cent to Rs 766.50.

At National Stock Exchange, shares of the company fell 3.66 per cent to settle at Rs 780.95.

Wockhardt on Saturday reported a fall of 82.65 per cent in consolidated net profit to Rs 15.89 crore for the first quarter ended June 30, mainly on account of dip in sales and increased expenditure.

The company had posted a net profit of Rs 91.61 crore in the same period a year ago, Wockhardt had said in a BSE filing.

Consolidated total income of the company also decreased to Rs 1,090.83 crore during the quarter under review as against Rs 1,138.87 crore in the year-ago period.