Biocon Q3 net profit dips 7 pc to Rs 203 cr

Biotechnology major Biocon on Thursday reported a 6.62 per cent fall in consolidated net profit at Rs 202.8 crore for the quarter ended December 31, 2019 on account of higher expenses. The company had posted a net profit of Rs 217.2 crore for the corresponding period of the previous fiscal, Biocon said in a filing to the BSE.

However, the company's revenue from operations rose to Rs 1,748.1 crore for the quarter under consideration as against Rs 1,540.8 crore during the same period a year ago. Expenses rose to Rs 1,465.6 crore for December quarter as against Rs 1,295.4 crore in the year-ago period.

Shares of Biocon Ltd on Thursday closed at Rs 294.20 per scrip on the BSE, up 0.50 per cent from previous close.