Industry

Biocon’s net slumps 16.7% to ₹169 crore

Biocon reported a 16.7% dip in net profit to ₹169 crore for the third quarter ended December 31.

Revenue from operations rose 7.8% to ₹1,851 crore. Its generics business took a hit and there were headwinds across operational, regulatory and commercial functions.

“2020 has been one of the most challenging years for the world with an unprecedented pandemic impact on the global economy,” said Kiran Mazumdar-Shaw, chairperson.

“We still face headwinds across operational, regulatory and commercial functions. However, we expect normalcy by next fiscal.’’

The scrip slumped almost 11% to close at ₹393.80 on the BSE.

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Printable version | Feb 28, 2021 12:58:34 PM | https://www.thehindu.com/business/Industry/biocons-net-slumps-167-to-169-crore/article33638047.ece

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