
Biocon posted a 51.20% drop in consolidated net profit in Q1
Biocon had post-market hours on Thursday reported a 51.20 per cent decline in consolidated net profit at Rs 81.3 crore for the quarter ended June 30.
The company had posted a net profit of Rs 166.6 crore for the corresponding quarter of the previous fiscal year.
Total income of the company stood at Rs 987.7 crore for the quarter under consideration, as against Rs 1,032.9 crore a year ago.
Commenting on the results, Biocon chairperson and MD Kiran Mazumdar-Shaw said: "Financial performance was muted largely due to a combination of factors: weakening of US Dollar, GST (Goods and Services Tax) impact and inclusion of operational and fixed costs of Malaysia."