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Biocon dips 11% in three days on disappointing September quarter results

The company said profitability was impacted on account of higher R&D expenses, staff costs, other expenses and forex losses

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SI Reporter Mumbai
Shares of Biocon slipped 6.5 per cent to Rs 390 on the BSE on Monday, falling 11 per cent in the past three trading days, after the company reported lower-than-expected performance for the quarter, largely weighed by operational challenges for the quarter ended September 2020 (Q2FY21).

Biocon reported 22 per cent year on year (YoY) decline in its consolidated net profit at Rs 169 crore in Q2FY21 against Rs 216 crore in Q2FY20. Revenue from operations grew 11 per cent at Rs 1,745 crore on YoY basis.

Ebitda (earnings before interest, taxes, depreciation, and amortization) down 8 per

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First Published: Oct 26 2020 | 2:46 PM IST

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