Wockhardt net profit falls 97 per cent in Q2

Pharmaceuticals firm Wockhardt on Monday reported a consolidated net profit of Rs 3.63 crore for the second quarter ended September 30, 2014, due to lower sales and a tax expense of Rs 74.98 crore.

The company had posted a consolidated net profit of Rs 138.50 crore in the same quarter last fiscal, Wockhardt Ltd said in a filing to the BSE.

Net sales during the period under review stood at Rs 947.86 crore, down 20.81 per cent as against Rs 1,196.97 crore in the year-ago quarter.

Wockhardt had reported negative tax of Rs 8.78 crore in the corresponding period a last year.

The company also said that its board of directors has declared an interim dividend of Rs 20 per share for the financial year 2014-15.

Shares of Wockhardt settled at Rs 770.40 on the BSE, up 1.52 per cent from previous close.