Biocon net dips as costs bite

India's largest biotechnology company by revenue, Biocon has posted a 4% year on year drop in consolidated net profit at Rs 85.7 crore for the quarter ended September 2011 compared to Rs 89 crore in the corresponding quarter last year on higher energy costs and a rise in wages.

India's largest biotechnology company by revenue, Biocon has posted a 4% year on year drop in consolidated net profit at Rs 85.7 crore for the quarter ended September 2011 compared to Rs 89 crore in the corresponding quarter last year on higher energy costs and a rise in wages.

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Branded formulations and research services helped the company maintain growth momentum. "The branded formulations segment has delivered a solid 37% year-on-year growth, while research services has grown by a robust 20 %," said Kiran Mazumdar-Shaw, CMD, Biocon.