Biocon Q2 net slips 4% due to higher energy costs

Biocon, a global bio-pharmaceutical company reported a fall of 4% in its net profit for the quarter ended September 30.

Biocon's consolidated net profit fell from Rs 89 crore a year ago to Rs 85 crore during the quarter.

It's net profits dropped on account of higher energy costs and wage rise.

It's energy costs grew by 14% to Rs 22 crore, while wages of the employees were raised by 34% to Rs 77.8 crore.

The company reported a 23% rise in its total income from Rs 427.7 crore a year ago to Rs 524.3 crore during the quarter.

It's EBITDA margin stood at 29%.

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