Wockhardt's Q2 profit more than halves, hit by export curbs
Oct 25 2013
Wockhardt posted a net profit of 1.4 billion rupees for the three months ended September 30, compared with 4.5 billion rupees a year ago. Revenues fell 11 percent to 12 billion rupees, the company said in a statement on Friday.
The average estimate for the company's net profit was 2.4 billion rupees, according to a Reuters poll of two brokerages.
Wockhardt has previously said the U.S. ban on the Waluj factory in western India, reported in May, could cost the company about $100 million in sales a year.
The United States and Europe accounted for three-quarters of the company's revenues in the last fiscal year that ended in March.