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Biocon has posted a net decrease of 51 percent for the quarter ended June.
The company that posted a net profit of Rs 81 crore in the first quarter of this fiscal, had reported Rs 167 crore profit in a year ago period.
The revenues of the company declined 6 percent to Rs 934 crore from Rs 992 crore in the corresponding quarter of the previous year.
Kiran Mazumdar Shaw, chairperson and Managing Director of Biocon has said that “Financial performance was muted largely due to a combination of factors: weakening of US dollar, GST impact, and inclusion of operational and fixed costs of Malaysia.”
