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Biocon third-quarter profit plunges 46 percent

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Reuters
Last Updated : Jan 24 2018 | 6:55 PM IST

(Reuters) - Biocon Ltd, India's biggest biotechnology firm, posted a 46 percent fall in third-quarter profit on Wednesday hurt by an increase in interest and depreciation costs related to its Malaysia operations.

Profit fell to 919 million rupees ($14.43 million) in the quarter ended Dec. 31, compared with 1.71 billion rupees a year earlier. https://bsmedia.business-standard.combit.ly/2rvTd8e

Revenue from operations rose 1.3 percent to 10.58 billion rupees.

($1 = 63.6900 Indian rupees)

(Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Supriya Kurane)

Disclaimer: No Business Standard Journalist was involved in creation of this content

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First Published: Jan 24 2018 | 6:42 PM IST

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