VAT Pulls Down Wockhardt's Q1 Bottomline 6 Percent

Pharma and biotech company, Wockhardt, recorded a 6 percent dip in net profit to Rs 42 crore for the first quarter ended March, as domestic sales slumped on account of VAT. Domestic sales dropped 19 percent during the quarter, dragging the consolidated sales growth down to 7 percent.

The Economic Times (http://economictimes.indiatimes.com/articleshow/1083808.cms)