New Delhi: Biocon Q3 net dips 7%

New Delhi: Biotechnology major Biocon on Thursday reported a 6.62 per cent fall in consolidated net profit at Rs 202.8 crore for the quarter ended December 31, 2019 due to higher research and development (R&D) expenses and tax impact of an exceptional item.

The company had posted a net profit of Rs 217.2 crore during October-December period of the previous fiscal, Biocon said in a filing to the BSE. The company's consolidated revenue from operations, however, rose to Rs 1,748.1 crore for the quarter under consideration as against Rs 1,540.8 crore in the same period a year ago. Its expenses rose to Rs 1,465.6 crore for the quarter ended December 2019 as against Rs 1,295.4 crore in the year-ago period.