Biocon Q3 net profit dips 46% to Rs 92 crore

Biocon Q3 net profit dips 46% to Rs 92 crore

The company had posted a net profit of Rs 171.3 crore for the corresponding period of the previous fiscal, Biocon said in a filing to BSE.

Consolidated revenue from operations of the company stood at Rs 1,057.9 crore for the quarter under consideration as against Rs 1,044.4 crore for the same period year ago.

"This has been a significant quarter for Biocon as we crossed a major milestone of obtaining USFDA approval for biosimilar Trastuzumab partnered with Mylan," Biocon Chairperson and MD Kiran Mazumdar-Shaw said.

Another highlight was the announcement of a new strategic partnership with Sandoz to develop, manufacture and commercialise a portfolio of next wave of biosimilars for global markets, she added.

Small molecules business reported revenue of Rs 369 crore,

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