Wockhardt lost 1.67% to Rs 757.50 at 11:08 IST on BSE after consolidated net profit fell 98% to Rs 3 crore on 14% decline in sales to Rs 1029 crore in Q2 September 2014 over Q2 September 2013.
The Q2 result was announced after market hours on Monday, 3 November 2014.
Meanwhile, the S&P BSE Sensex was up 89.46 points or 0.32% at 27,949.84.
On BSE, so far 2.49 lakh shares were traded in the counter as against average daily volume of 4.38 lakh shares in the past one quarter.
The stock hit a high of Rs 766.95 and a low of Rs 736 so far during the day. The stock had hit a 52-week low of Rs 336.60 on 16 December 2013. The stock had hit a 52-week high of Rs 886.50 on 15 September 2014.
The stock had underperformed the market over the past one month till 3 November 2014, sliding 4.36% compared with Sensex's 4.86% rise. The scrip had, however, outperformed the market in past one quarter, jumping 15.51% as against Sensex's 9.34% rise.
The mid-cap company has equity capital of Rs 55.02 crore. Face value per share is Rs 5.
Wockhardt's operating profit declined 16% to Rs 165 crore in Q2 September 2014 over Q2 September 2013. Operating profit margin declined to 16% in Q2 September 2014, from 16.4% in Q2 September 2013.
Wockhardt said it increased its research spend significantly and the same is now at 10.7% to sales at Rs 110 crore and including capital expenditure is at 11.1% to sales in Q2 September 2014.
The company incurred capital expenditure of Rs 194 crore in the first half of FY 2015.
Wockhardt's board of directors at its meeting held on 3 November 2014, approved payment of interim dividend of Rs 20 per share for the year ending 31 March 2015.
Wockhardt is a global pharmaceutical and biotechnology organisation, providing affordable, highly quality medicines for a healthier world. It is India's leading research-based global healthcare enterprise with relevance in the fields of pharmaceuticals, biotechnology and a chain of advanced super speciality hospitals.
Powered by Capital Market - Live News
