Drug major Wockhardt today posted 14.46 per cent decline in consolidated net profit to Rs 323.31 crore for the quarter ended June 30, 2013, due to sluggish sales in emerging markets.
The company had posted a net profit of Rs 377.97 crore in the same period of previous fiscal.
Net sales, however, rose to Rs 1,358.37 crore for the first quarter ended June 30, 2013, compared to Rs 1,341.44 crore during the same period of previous fiscal.
The Mumbai—based firm said its international business contributed 82 per cent of total revenues during the quarter.
“Wockhardt’s US business recorded a growth of 11 per cent in first quarter of FY14 and contributed 53 per cent of the global revenues for Wockhardt,” it added.
The company said its UK business recorded a growth of 1 per cent in the first quarter, while the Irish market recorded a decline of 31 per cent during the period under review.
Wockhardt said its India business grew by 3 per cent while the emerging markets business declined by 28 per cent during the first quarter ended June 30, 2013.
Shares of Wockhardt were trading at Rs 440.25 on the BSE, up 5 per cent from their previous close.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.