 "Biocon's facility. Photo: Company's website")
Biocon Ltd, India’s largest biopharma firm, said its first quarter profits dropped 51 per cent to Rs 81 crore on account of lower sales of small molecules and branded formulations.
Revenue dropped 4 per cent to Rs 988 crore in the quarter ended June, Biocon said.
The Bengaluru-based firm had reported profits of Rs 167 crore on revenue of Rs 1,033 crore in the same period last year.
“Our biologics business had a strong quarter led by insulins sales. Financial performance was muted largely due to a combination of factors: weakening of US dollar, GST impact, and inclusion of operational
