Biocon Q2 Net Flat at Rs 102 crore

Biotechnology major Biocon today reported a flat growth in its consolidated net profit at Rs 102.05 crore for the quarter ended September 30, 2014.

The company had posted a net profit after tax and minority interest at Rs 102.15 crore for the corresponding period of the previous fiscal, Biocon said in a statement.

Consolidated total income of the company, however, rose to Rs 757.59 crore for the quarter under consideration as against Rs 740.Commenting on the quarterly performance, Biocon Chairman and Managing Director Kiran Mazumdar-Shaw said: "The growth of our core biopharma business this quarter has been muted largely due to capacity constraints and geo-political challenges in the Middle East."

However, clinical progress in our key global programmes for generic Insulin Glargine and Trastuzumab is indicative of the value accretion that is realisable in the foreseeable future, she added.

The stock of Biocon was down over one per cent on the Bombay Stock Exchange.

With inputs from PTI

Story first published: Wednesday, October 22, 2014, 13:53 [IST]

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