Wockhardt Q3 profit falls 29% to Rs 304 crore

Wockhardt reported a 29 per cent drop in quarterly net profit, hit by a fall in sales after the US health regulator banned two of the drugmaker's plants from exporting products to the United States - its largest market. In November, the US Food and Drug Administration issued an import alert, effectively a ban, against Wockhardt's Chikalthana plant in western India. The FDA had imposed a ban on the company's Waluj plant in May. ...