Biocon Q3 internet revenue falls 19% to Rs 186.6 crore

Biotechnology main Biocon has reported an 18.97 per cent fall in consolidated revenue at Rs 186.6 crore for the quarter ended December 31, 2020 on account of upper bills.
The firm had posted a revenue of Rs 230.3 crore for the corresponding interval of the earlier fiscal.
The firm’s income from operations rose to Rs 1,851 crore for the quarter into consideration, up 7.81 per cent, as towards Rs 1,716.8 crore throughout the identical interval a 12 months in the past, Biocon stated in a late night time regulatory submitting on Thursday.

Expenses rose to Rs 1,642.6 crore for the December quarter, a rise of 14.52 per cent, as towards Rs 1,434.3 crore within the year-ago interval.
Kiran Mazumdar-Shaw, Executive Chairperson, Biocon, stated: “2020 has been one of the most challenging years for the world with an unprecedented pandemic impact on the global economy. We continue to face headwinds across operational, regulatory and commercial functions which have been deterrents to our planned market expansion. However, we expect normalisation by next fiscal”.

Shares of Biocon Ltd had been buying and selling 8.44 per cent decrease at Rs 404.64 apiece on the BSE.