Licensing income hits Biocon net

Biotechnology major Biocon on Thursday reported a 9% year-on-year decline in consolidated net profit at Rs 70 crore for the quarter ended June against Rs 77 crore last year due to lower licensing income.

Biotechnology major Biocon on Thursday reported a 9% year-on-year decline in consolidated net profit at Rs 70 crore for the quarter ended June against Rs 77 crore last year due to lower licensing income.

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Licensing income fell to Rs 14 crore during the quarter from Rs 21 crore in the year-ago period. The company’s net sales grew 10% to Rs 442 crore during the April-June quarter.