Biocon Q2 net dips 4% to Rs 86 cr

I / Mumbai October 20, 2011, 11:43 IST

Biotechnology major Biocon today said its consolidated net profit declined by 3.94% year-on-year to Rs 85.70 crore for the quarter ended September 30, 2011.

The company had posted a consolidated net profit of Rs 89.22 crore for the quarter ended September 30, 2010, Biocon said in a statement.

Consolidated total income of the company for the quarter ended September 30, 2011, stood at Rs 513.43 crore, as against Rs 421.53 crore in the same period last fiscal.

Chairman & Managing Director Kiran Mazumdar-Shaw said that the licensing income could have been slightly higher, while telling that the insulin business was performing well at the.

Shares of Biocon were being quoted at Rs 347.25 apiece in morning trade on the BSE today, down 0.36% from their previous close.