Biocon Q2 net profit flat at Rs 102 crore

Biocon’s consolidated net profit remained flat at Rs 102.05 crore for the quarter ended September 30, mainly on account of higher expenses, capacity constraints and challenges in specific export markets. 

The company had posted a net profit at Rs 102.15 crore for the corresponding period of the previous fiscal. Consolidated total income from operations of the company, however, rose to Rs 757.59 crore for the quarter under consideration as against Rs 740.81 crore for the same period a year ago.

Biocon Chairman and Managing Director Kiran Mazumdar-Shaw said: “The growth of our core biopharma business this quarter has been muted largely due to capacity constraints and geo-political challenges in the Middle East.”