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Drug major Wockhardt on Monday reported nearly 78 per cent drop in consolidated net profit at Rs 74.45 crore for the quarter ended March 2014 mainly due to regulatory issues with US and UK health regulators. The company had posted a net profit of Rs 334.76 crore in the corresponding period of the previous fiscal, Wockhardt said in a filing to the BSE.
Consolidated net sales of the company also declined to Rs 1,038.67 crore for the quarter under consideration. Consolidated net profit after taxes, minority interest and share of profit (loss) of the associates for the fiscal year ended March 31, 2014 stood at Rs 840.71 crore. It was Rs 1,594.12 crore for the previous fiscal year.
