Photo: Hemant Mishra/MintMumbai: Biocon Ltd’s consolidated net profit declined 46% to Rs91.9 crore in the quarter ended 31 December as interest and depreciation costs relating to its Malaysia facility rose. The Bengaluru-based company’s net sales rose 1.3% to Rs1,057.9 crore during the quarter from a year earlier. A Bloomberg poll of 10 brokerages had estimated the company’s consolidated net profit at Rs109.4 crore and net sales at Rs1,049 crore. The company’s biologics business clocked revenue of Rs190 crore, compared with Rs222 crore a year ago. Adjusted for licensing income, product sales grew 16% year-on-year with growth seen in both insulins and biosimilar antibodies portfolio,” Biocon said.

Source: Mint January 24, 2018 19:41 UTC