Biocon net profit declines 57 percent to Rs 136 crore in Q4
New Delhi: Biocon, a biotech company has recorded a 57 percent decrease in its consolidated net profit to Rs 136 crore for the fourth quarter that concluded in March 2024, primarily due to higher expenses
In the January-March quarter of the previous fiscal year, the company posted a net profit of Rs 313 crore.
Total revenue rose marginally to Rs 3,966 crore in the fourth quarter compared with Rs 3,929 crore in the year-ago period, Biocon said in a statement.
The company said its total expenses rose to Rs 3,635 crore in the fourth quarter from Rs 3,389 crore in the same period of FY23.
According to a PTI report, For the year ended on March 31, 2024, the company said its consolidated net profit rose to Rs 1,022 crore as against Rs 463 crore a year ago.
Total revenue rose to Rs 15,621 crore for the last fiscal as against Rs 11,550 crore in the 2022-23 fiscal.
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