Biocon Net Plunges 39% In Q2 To Rs 216 Crore

Biotech major Biocon on Wednesday reported a Rs 216 crore consolidated net profit for the second quarter (Q2) of fiscal 2019-20, registering a 39 percent decline from Rs 355 crore in the same period a year ago.

The city-based company, however, said the net profit a year ago included Rs 171 crore exceptional income.

Sequentially, net profit rose 5 percent to Rs 216 crore from Rs 206 crore a quarter ago.

In a regulatory filing on the BSE, the city-based pharma company said consolidated revenue from sales grew 19 per cent annually to Rs 1,572 crore from Rs 1,322 crore in the like period a year ago.

Sequentially, revenue rose 7 percent to Rs 1,572 crore from Rs 1,466 crore a quarter ago.

Earnings before interest, depreciation and ammortisation (Ebitda) increased 12 per cent annually to Rs 441 crore from Rs 394 crore year ago but declined 4 percent sequentially from Rs 462 crore a quarter ago. – New Kerala