Biocon net flat at Rs 102 cr; revenue up 3% - Hindustan Times
close_game
close_game

Biocon net flat at Rs 102 cr; revenue up 3%

Hindustan Times | By, Bangalore
Oct 23, 2014 12:11 AM IST

Biotechnology firm Biocon on Wednesday reported a flat growth in its consolidated net profit to Rs. 102.05 crore for the second quarter ended September against Rs. 102.15 crore last year.

Biotechnology firm Biocon on Wednesday reported a flat growth in its consolidated net profit to Rs. 102.05 crore for the second quarter ended September against Rs. 102.15 crore last year.

Revenue rose 3% to Rs. 773 crore during the quarter.

Hindustan Times - your fastest source for breaking news! Read now.

“The growth of our core biopharma business this quarter has been muted largely due to capacity constraints and geo-political challenges in West Asia,” said Kiran Mazumdar-Shaw, CMD, Biocon.

“Whilst we continue to invest in research and development and capacity-building for our insulins and antibodies portfolio, we expect branded formulations and research services businesses to drive growth in the interim,” said Shaw. “However, clinical progress in our key global programmes for generic Insulin Glargine and Trastuzumab is indicative of the value accretion that is realisable in the foreseeable future,” she added.

Biocon’s stock fell 1% to end at Rs. 475.05 on the BSE on Wednesday after the results announcement.

It also said it would commission its insulin facility in Malaysia in the second-half of the 2014-15.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News, Vijay Shekhar Sharma along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Wednesday, February 28, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On