Business Medical Dialogues
    • facebook
    • twitter
    Login Register
    • facebook
    • twitter
    Login Register
    • Medical Dialogues
    • Speciality Dialogues
    • Education Dialogues
    • Medical Jobs
    • Medical Matrimony
    • MD Brand Connect
    Business Medical Dialogues
    • News
        • Financial Results
        • Hospitals & Diagnostics
        • IT / Health Venture
        • Implants / Devices
        • Insurance
        • Key Movement
        • Pharmaceuticals
        • Policy
        • Technology
        • pharma-news
    • blog
    LoginRegister
    Business Medical Dialogues
    LoginRegister
    • Home
    • News
      • Financial Results
      • Hospitals & Diagnostics
      • IT / Health Venture
      • Implants / Devices
      • Insurance
      • Key Movement
      • Pharmaceuticals
      • Policy
      • Technology
      • pharma-news
    • blog
    • Home
    • News
    • Financial Results
    • Biocon Q1 net profit...

    Biocon Q1 net profit slumps 51 percent to Rs 81 crore

    Written by Ruby Khatun Khatun Published On 2017-08-05T09:16:55+05:30  |  Updated On 5 Aug 2017 9:16 AM IST

    New Delhi: Bio-pharmaceutical firm Biocon reported a 51.20 per cent decline in its consolidated net profit to Rs 81.3 crore for the quarter ended June 30, on account of weakening of the US Dollar and GST impact.


    The company had posted a net profit of Rs 166.6 crore for the corresponding quarter of the previous fiscal, Biocon said in a BSE filing.


    Total income of the company stood at Rs 987.7 crore for the quarter under consideration, as against Rs 1,032.9 crore in the same period a year ago.



    Commenting on the results, Biocon Chairperson & MD Kiran Mazumdar-Shaw said: "Financial performance was muted largely due to a combination of factors: weakening of US Dollar, GST impact and inclusion of operational and fixed costs of Malaysia".

    Additionally, the year-on-year comparison was impacted by the one-time adjustment in Q1 of FY17 related to IndAS migration, she added.


    A major milestone this quarter was the USFDA Oncologic Drugs Advisory Committee (ODAC) recommendation for approval of our biosimilar Trastuzumab, Mazumdar-Shaw said.


    "We also received regulatory approvals from the Indian regulator for our biosimilar Bevacizumab," she added.


    "The outlook for FY18 remains cautious as much depends on regulatory approvals and tender outcomes for our biosimilars in key emerging markets. However, we will endeavour to maintain healthy core operating margins, going forward," Mazumdar-Shaw said.

    bevacizumabBioconconsolidated net profitdeclineFinancial resultsGSTKiran Mazumdar ShawOncologic Drugs Advisory CommitteeTrastuzumabUSFDA
    Source : PTI

    Disclaimer: This site is primarily intended for healthcare professionals. Any content/information on this website does not replace the advice of medical and/or health professionals and should not be construed as medical/diagnostic advice/endorsement or prescription. Use of this site is subject to our terms of use, privacy policy, advertisement policy. © 2020 Minerva Medical Treatment Pvt Ltd

    Ruby Khatun Khatun
    Ruby Khatun Khatun
      Show Full Article
      Next Story
      Similar Posts
      NO DATA FOUND

      Popular Stories

      • Email: info@medicaldialogues.in
      • Phone: 011 - 4372 0751

      Website Last Updated On : 13 Oct 2022 5:14 AM GMT
      Company
      • About Us
      • Contact Us
      • Our Team
      • Reach our Editor
      • Feedback
      • Submit Article
      Ads & Legal
      • Advertise
      • Advertise Policy
      • Terms and Conditions
      • Privacy Policy
      • Editorial Policy
      • Comments Policy
      • Disclamier
      Medical Dialogues is health news portal designed to update medical and healthcare professionals but does not limit/block other interested parties from accessing our general health content. The health content on Medical Dialogues and its subdomains is created and/or edited by our expert team, that includes doctors, healthcare researchers and scientific writers, who review all medical information to keep them in line with the latest evidence-based medical information and accepted health guidelines by established medical organisations of the world.

      Any content/information on this website does not replace the advice of medical and/or health professionals and should not be construed as medical/diagnostic advice/endorsement or prescription.Use of this site is subject to our terms of use, privacy policy, advertisement policy. You can check out disclaimers here. © 2025 Minerva Medical Treatment Pvt Ltd

      © 2025 - Medical Dialogues. All Rights Reserved.
      Powered By: Hocalwire
      X
      We use cookies for analytics, advertising and to improve our site. You agree to our use of cookies by continuing to use our site. To know more, see our Cookie Policy and Cookie Settings.Ok