Biocon Q3 net profit falls 19 pc to Rs 186.6 cr

PTI | New Delhi | Updated: 22-01-2021 11:26 IST | Created: 22-01-2021 10:59 IST
Biocon Q3 net profit falls 19 pc to Rs 186.6 cr
Representative Image Image Credit: Pixabay

Biotechnology major Biocon has reported an 18.97 per cent fall in consolidated profit at Rs 186.6 crore for the quarter ended December 31, 2020 on account of higher expenses.

The company had posted a profit of Rs 230.3 crore for the corresponding period of the previous fiscal.

The company's revenue from operations rose to Rs 1,851 crore for the quarter under consideration, up 7.81 per cent, as against Rs 1,716.8 crore during the same period a year ago, Biocon said in a late night regulatory filing on Thursday.

Expenses rose to Rs 1,642.6 crore for the December quarter, an increase of 14.52 per cent, as against Rs 1,434.3 crore in the year-ago period.

Kiran Mazumdar-Shaw, Executive Chairperson, Biocon, said: ''2020 has been one of the most challenging years for the world with an unprecedented pandemic impact on the global economy. We continue to face headwinds across operational, regulatory and commercial functions which have been deterrents to our planned market expansion. However, we expect normalisation by next fiscal''. Shares of Biocon Ltd were trading 8.44 per cent lower at Rs 404.64 apiece on the BSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)



Addressing conflict-related sexual violence at long last

... ...

Why unequal access to coronavirus vaccines is a threat to us all

... ...

India’s love affair with fossil fuels: the path to sustainable development?

... ...


Latest News

GLOBAL MARKETS-Bond fires smoulder, shares drop ahead of U.S. jobs data

It was a frantic Friday for traders as another push higher in bond-market borrowing costs and the dollar sank stocks and oil prices jumped after OPEC and its allies opted against increasing supply for the time being.Nervy European shares st...

Budget focuses on growth while giving message of tax rate stability: Debroy

Economic Advisory Council to the Prime Minister EAC-PM Chairman Bibek Debroy on Friday said that while giving the message that tax rates will remain stable, the Union Budget 2021-22 focussed on promoting growth by driving reforms to boost c...

Filing review plea on SC's OBC quota ruling an option: Ajit

Moving the Supreme Court with a review petition against its ruling that reservations to Other Backward Classes cannot exceed 50 per cent of the seats in local bodies reserved for SCs, STs and OBCs taken together, was an option before the Ma...

What you need to know about the coronavirus right now

Heres what you need to know about the coronavirus right now Vaccine confidence grows as side-effect worries fadeConfidence in COVID-19 vaccines is growing, with peoples willingness to have the shots increasing as they are rolled out across ...

Give Feedback