The company's revenue from operations rose to <span class='webrupee'>₹</span>1,851 crore for the quarter under consideration, up 7.81 per cent, as against <span class='webrupee'>₹</span>1,716.8 crore during the same period a year ago(Biocon/Twitter)
The company's revenue from operations rose to 1,851 crore for the quarter under consideration, up 7.81 per cent, as against 1,716.8 crore during the same period a year ago(Biocon/Twitter)

Biocon Q3 net profit falls 19% to 186.6 cr

The company had posted a profit of 230.3 crore for the corresponding period of the previous fiscal.
PTI, Mumbai
PUBLISHED ON JAN 22, 2021 12:19 PM IST

Biotechnology major Biocon has reported an 18.97 per cent fall in consolidated profit at 186.6 crore for the quarter ended December 31, 2020 on account of higher expenses.

The company had posted a profit of 230.3 crore for the corresponding period of the previous fiscal.

The company's revenue from operations rose to 1,851 crore for the quarter under consideration, up 7.81 per cent, as against 1,716.8 crore during the same period a year ago, Biocon said in a late night regulatory filing on Thursday.

Expenses rose to 1,642.6 crore for the December quarter, an increase of 14.52 per cent, as against 1,434.3 crore in the year-ago period.

Kiran Mazumdar-Shaw, Executive Chairperson, Biocon, said: "2020 has been one of the most challenging years for the world with an unprecedented pandemic impact on the global economy. We continue to face headwinds across operational, regulatory and commercial functions which have been deterrents to our planned market expansion. However, we expect normalisation by next fiscal". 

Shares of Biocon Ltd were trading 8.44 per cent lower at 404.64 apiece on the BSE.

SHARE THIS ARTICLE ON
Topics
Close
Investors feared foreign outflows as bond yields are inversely proportional to equity returns..(MINT_PRINT)
Investors feared foreign outflows as bond yields are inversely proportional to equity returns..(MINT_PRINT)

Equities crash as bond yields surge, private banks hit badly

UPDATED ON FEB 26, 2021 12:50 PM IST
The other major losers were Bajaj Finance, Bajaj Finserv, HDFC, JSW Steel and Mahindra & Mahindra.
Close
The company partnered with Alphabet Inc's Google in 2015 to bring free public WiFi to over 400 of the busiest railway stations in India by mid-2020.(HT Photo)
The company partnered with Alphabet Inc's Google in 2015 to bring free public WiFi to over 400 of the busiest railway stations in India by mid-2020.(HT Photo)

RailTel Corp of India jumps 16% in market debut

Reuters, Bengaluru
PUBLISHED ON FEB 26, 2021 11:10 AM IST
More than a dozen companies, including Burger King India, opted for initial public offerings (IPOs) in the last few months of 2020 to cash in on a rally in Indian shares, fuelled by record foreign inflows and an improving economic outlook.
Close
On Thursday, the rupee had settled at 72.43 against the American currency.(Mint)
On Thursday, the rupee had settled at 72.43 against the American currency.(Mint)

Rupee tanks 67 paise to 73.10 against US dollar in early trade

PTI, Mumbai
PUBLISHED ON FEB 26, 2021 10:56 AM IST
At the interbank forex market, the domestic unit opened at 72.43 against the US dollar, then lost further ground and touched 73.10, registering a plunge of 67 paise over its previous close.
Close
A Boeing 737 Max jet (File Photo/AP)
A Boeing 737 Max jet (File Photo/AP)

Australia to lift ban on Boeing 737 MAX, first in Asia-Pacific region

Reuters
PUBLISHED ON FEB 26, 2021 10:04 AM IST
The Civil Aviation Safety Authority on Friday it would lift a near two-year ban after accepting the comprehensive return-to-service requirements set by the U.S. Federal Aviation Administration (FAA).
Close
IndusInd Bank was the top loser in the Sensex pack, shedding around 3 per cent, followed by ICICI Bank, Axis Bank, HDFC, M&amp;M, SBI, HDFC Bank, Reliance Industries and Tech Mahindra.(MINT_PRINT)
IndusInd Bank was the top loser in the Sensex pack, shedding around 3 per cent, followed by ICICI Bank, Axis Bank, HDFC, M&M, SBI, HDFC Bank, Reliance Industries and Tech Mahindra.(MINT_PRINT)

Sensex tanks over 1,000 pts in opening trade; Nifty slips below 14,900

PTI, Mumbai
PUBLISHED ON FEB 26, 2021 09:53 AM IST
After touching a low of 49,950.75, the 30-share BSE index was trading 927.21 points or 1.82 per cent lower at 50,112.10.
Close
Sensex(MINT_PRINT)
Sensex(MINT_PRINT)

Indices in red as Sensex falls 759 points to 50,280; Nifty slides 220 points

By hindustantimes.com, New Delhi
UPDATED ON FEB 26, 2021 09:53 AM IST
In the opening session on Friday, Sensex was trading at 50,280.
Close
Finance minister Nirmala Sitharaman, in the budget, has pegged the Centre’s fiscal deficit at 6.8% of GDP for FY22, promising to bring it down to 4.5% of GDP by FY26.(Kunal Patil/HT file photo. Representative image)
Finance minister Nirmala Sitharaman, in the budget, has pegged the Centre’s fiscal deficit at 6.8% of GDP for FY22, promising to bring it down to 4.5% of GDP by FY26.(Kunal Patil/HT file photo. Representative image)

GDP to shrink 7% this fiscal, see 13.7% growth in FY 22, says Moody’s

By Asit Ranjan Mishra, Gopika Gopakumar, Livemint, New Delhi, Mumbai
PUBLISHED ON FEB 26, 2021 08:19 AM IST
The rating agency also said India’s weak fiscal position will remain a key credit challenge in 2021 with a debt-to-GDP ratio above its peers. India has the lowest investment grade of Baa3 with negative outlook from Moody’s.
Close
Eveready Industries’ managing director Amritanshu Khaitan.
Eveready Industries’ managing director Amritanshu Khaitan.

Burman family may get joint promoter status at Eveready

By Anirudh Laskar, Livemint, Mumbai
PUBLISHED ON FEB 26, 2021 08:15 AM IST
The shareholding of the Khaitan family plunged to just 4.5% from 44.1% over the past year as lenders sold shares of Eveready pledged with them after the promoter group defaulted on payments.
Close
The telco said it received orders from 92 accounts for senior bonds and 97 accounts for perpetual bonds.(REUTERS)
The telco said it received orders from 92 accounts for senior bonds and 97 accounts for perpetual bonds.(REUTERS)

Bharti Airtel raises $1.25 billion through overseas bonds

By Ishita Guha, Livemint, New Delhi
PUBLISHED ON FEB 26, 2021 08:09 AM IST
Bharti Airtel priced the senior 10.25-year bonds of $750 million at a yield of 187.5 basis points (bps) for an implied coupon of 3.25%, while its wholly-owned subsidiary Network i2i Ltd priced $500 million worth guaranteed subordinated perpetual 5.25-year bonds at a coupon of 3.975%.
Close
Until now, a company has been required to both have a positive net worth and be profitable to be an eligible bidder for government contracts.(ANI file photo. Representative image)
Until now, a company has been required to both have a positive net worth and be profitable to be an eligible bidder for government contracts.(ANI file photo. Representative image)

Govt tweaks norms for public procurement deals: Officials

By Rajeev Jayaswal
PUBLISHED ON FEB 26, 2021 08:07 AM IST
The profit criterion for prequalification in government tenders has been discontinued with immediate effect, the officials said on condition of anonymity.
Close
 A bench of justices Uday U Lalit and K M Joseph ordered that contempt proceedings will not go be initiated in the high courts of Kerala, Rajasthan and Delhi, where cases related to employees’ pensions are pending.
A bench of justices Uday U Lalit and K M Joseph ordered that contempt proceedings will not go be initiated in the high courts of Kerala, Rajasthan and Delhi, where cases related to employees’ pensions are pending.

Supreme Court gives breather to govt, EPFO in pensions case

By Utkarsh Anand, New Delhi
PUBLISHED ON FEB 26, 2021 08:02 AM IST
It also directed that no adverse orders be issued against EPFO and the government for not complying with the apex court’s 2019 judgment, which ordered that subscribers of the Employee Pension Scheme or EPS be given the full pension as calculated by their last drawn salaries, irrespective of the ceiling.
Close
Chairman of the Federal Reserve Jerome Powell. (AP File Photo)
Chairman of the Federal Reserve Jerome Powell. (AP File Photo)

Powell is patient but markets aren’t, challenging new Fed policy

Bloomberg
PUBLISHED ON FEB 26, 2021 06:38 AM IST
In the market bleachers, some big names in economics, including Harvard University economist Lawrence Summers and former IMF chief economist Olivier Blanchard, are warning of economic overheating from the $1.9 trillion stimulus bill.
Close
Brent futures for April delivery fell 16 cents, or 0.2%, to settle at $66.88 a barrel. The April Brent contract expires on Friday.(REUTERS)
Brent futures for April delivery fell 16 cents, or 0.2%, to settle at $66.88 a barrel. The April Brent contract expires on Friday.(REUTERS)

Oil mixed, US crude hits highest since 2019 as refineries restart

Reuters, New York
PUBLISHED ON FEB 26, 2021 06:30 AM IST
Earlier in the day, an assurance that US interest rates will stay low and a sharp drop in US crude output last week due to the winter storm in Texas, helped boost both US crude and Brent to their highest intraday prices since January 2020.
Close
FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File Photo(REUTERS)
FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File Photo(REUTERS)

Oil set for monthly surge with market watching next OPEC+ move

Bloomberg
PUBLISHED ON FEB 26, 2021 06:13 AM IST
The recovery from the Covid-19 pandemic accelerated this year after Saudi Arabia pledged deeper output cuts, helping to drain bloated stockpiles.
Close
The Treasury note yield rose above S&amp;P 500 dividend yield, wiping out the stock market yield's strong advantage.(AP)
The Treasury note yield rose above S&P 500 dividend yield, wiping out the stock market yield's strong advantage.(AP)

Wall Street closes down, tech selloff drags as bond yields climb

Reuters, New York
PUBLISHED ON FEB 26, 2021 05:47 AM IST
The benchmark 10-year Treasury yields hit a one-year high of 1.614%, prompting investors concerned about rich valuations to lock in profits on some high-flying growth stocks.
Close
SHARE
Story Saved
OPEN APP