{"id":136883,"date":"2022-11-15T04:16:55","date_gmt":"2022-11-15T09:16:55","guid":{"rendered":"https:\/\/44.250.171.167\/?p=136883"},"modified":"2022-11-15T06:59:10","modified_gmt":"2022-11-15T11:59:10","slug":"biocon-q2fy23-results-out-revenue-up-by-26","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/biocon-q2fy23-results-out-revenue-up-by-26\/","title":{"rendered":"Biocon Q2FY23 results out: Revenue up by 26%"},"content":{"rendered":"\n<p>Biocon Ltd reported a 49 percent slump in consolidated net profit at INR 82 crore for the quarter ended September 30, 2022. The Kiran Muzumdar-Shaw-led company had posted a net profit of INR 160 crore in the year-ago period.<\/p>\n\n\n\n<p>Sequentially, the company&#8217;s profit slumped 67 percent from INR 144 crore in the June quarter (Q1FY22).<\/p>\n\n\n\n<p>The profit after tax for the quarter under review was impacted by Biocon&#8217;s decision to adopt the new tax regime notified u\/s 115BAA of the Income Tax Act, 1961. Consequently, the company has written off a Minimum Alternate Tax (MAT) balance of INR 107 crore in the current financial results, which can no longer be carried forward, it said in a regulatory filing. &#8220;Further, all existing deferred tax balances in Biocon Limited have also been remeasured using the reduced income tax rates expected to be applied under the new regime,&#8221; it added.<\/p>\n\n\n\n<p>Revenue from operations increased 26 percent to INR 2,320 crore in the said quarter as against INR 1,840 crore in the same quarter last fiscal. <\/p>\n\n\n\n<p>Moreover, the company has also informed that its board has appointed Peter Bains as Additional Director (Category &#8211; Independent) to its Board, subject to the completion of necessary formalities under the Companies Act. Bains has over three decades of experience in biopharmaceuticals, with a successful track record of building brands, businesses, teams and companies. He currently serves as a Non-Executive Director on the Board of Indivior PLC, a UK FTSE-listed pharmaceuticals company, as well as MiNA Therapeutics and Apterna, both privately held UK biotech companies, Biocon noted.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"748\" height=\"1024\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/11\/06b464f7-d197-4e37-845c-49da0edb0ced-748x1024.png\" alt=\"\" class=\"wp-image-136884\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/11\/06b464f7-d197-4e37-845c-49da0edb0ced-748x1024.png 748w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/11\/06b464f7-d197-4e37-845c-49da0edb0ced-219x300.png 219w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/11\/06b464f7-d197-4e37-845c-49da0edb0ced-768x1051.png 768w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/11\/06b464f7-d197-4e37-845c-49da0edb0ced-1122x1536.png 1122w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/11\/06b464f7-d197-4e37-845c-49da0edb0ced-1496x2048.png 1496w\" sizes=\"auto, (max-width: 748px) 100vw, 748px\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Biocon Ltd reported a 49 percent slump in consolidated net profit at INR 82 crore for the quarter ended September 30, 2022. The Kiran Muzumdar-Shaw-led company had posted a net profit of INR 160 crore in the year-ago period. Sequentially, the company&#8217;s profit slumped 67 percent from INR 144 crore in the June quarter (Q1FY22). [&hellip;]<\/p>\n","protected":false},"author":1863,"featured_media":49407,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5],"tags":[10155,10306,10156],"class_list":["post-136883","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","tag-biosimilars","tag-generic-drug","tag-novel-drugs"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":139023,"url":"https:\/\/alphastreet.com\/india\/shares-of-biocon-research-arm-soars-as-it-reports-23-rise-in-its-revenue\/","url_meta":{"origin":136883,"position":0},"title":"Shares of Biocon research arm soars as it reports 23% rise in its revenue","author":"Chirag Gupta","date":"January 24, 2023","format":false,"excerpt":"Syngene International reported a 5.5% rise in consolidated net profit to INR 109.70 crore in Q3 FY23 as against INR104 crore posted in Q3 FY22. Revenue from operations jumped 22.5% to INR 785.90 crore in the quarter ended 31 December 2022 as compared to INR 641.40 crore recorded in Q3\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"trending stocks high volatility","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":142828,"url":"https:\/\/alphastreet.com\/india\/tridents-q3fy23-net-profit-declines-by-32-percent\/","url_meta":{"origin":136883,"position":1},"title":"Trident&#8217;s Q3FY23 net profit declines by 32 percent","author":"Chirag Gupta","date":"February 27, 2023","format":false,"excerpt":"Textiles firm Trident Ltd reported a 32 per cent decline in consolidated profit after tax to INR 144 crore in the third quarter ended in December 2022. The company had posted a consolidated profit after tax of INR 211 crore in the same quarter previous fiscal, Trident Ltd said in\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"earnings preview","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":139479,"url":"https:\/\/alphastreet.com\/india\/trident-reported-a-32-decline-in-its-q3fy23-net-profit\/","url_meta":{"origin":136883,"position":2},"title":"Trident reported a 32% decline in its Q3FY23 net profit","author":"Chirag Gupta","date":"January 30, 2023","format":false,"excerpt":"Textiles firm Trident Ltd reported a 32 per cent decline in consolidated profit after tax to INR 144 crore in the third quarter ended in December 2022. The company had posted a consolidated profit after tax of INR 211 crore in the same quarter previous fiscal, Trident Ltd said in\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/84fcd02c-df3d-4d30-92a7-64a21b7078e2.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/84fcd02c-df3d-4d30-92a7-64a21b7078e2.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/84fcd02c-df3d-4d30-92a7-64a21b7078e2.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/84fcd02c-df3d-4d30-92a7-64a21b7078e2.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/84fcd02c-df3d-4d30-92a7-64a21b7078e2.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/84fcd02c-df3d-4d30-92a7-64a21b7078e2.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":139920,"url":"https:\/\/alphastreet.com\/india\/3i-infotech-ltd-nse-birlasoftq3-fy23-results-outtotal-income-rises-9-yoy\/","url_meta":{"origin":136883,"position":3},"title":"3i Infotech Ltd.(NSE:3IINFOLTD )|Q3 FY23 Results Out|Total Income rises 9% yoy","author":"Divyansh_Kasana","date":"February 2, 2023","format":false,"excerpt":"3i Infotech Limited (NSE: 3IINFOLTD) is an Indian multinational information technology company that provides software services and solutions to businesses in areas such as finance and accounting, risk management, and insurance. The company was established in 1993 and is headquartered in Mumbai, India. 3i Infotech offers a range of services\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/d33738f9-4cfe-47a9-b34f-cc119606b5e8-1.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/d33738f9-4cfe-47a9-b34f-cc119606b5e8-1.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/d33738f9-4cfe-47a9-b34f-cc119606b5e8-1.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/d33738f9-4cfe-47a9-b34f-cc119606b5e8-1.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/d33738f9-4cfe-47a9-b34f-cc119606b5e8-1.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/d33738f9-4cfe-47a9-b34f-cc119606b5e8-1.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":140879,"url":"https:\/\/alphastreet.com\/india\/vardhman-textiles-net-profit-more-than-doubles-to-inr-431-crores-in-q3fy23\/","url_meta":{"origin":136883,"position":4},"title":"Vardhman Textiles net profit dropped by 76% to INR 431 Crores in Q3FY23","author":"Chirag Gupta","date":"January 23, 2023","format":false,"excerpt":"Ludhiana-based Vardhman Textiles reported a consolidated profit-after-tax of INR 105 for the third quarter ended December 2022. The group had reported a profit after tax of INR 432 crore in the year-round period. Its total income for the quarter under review rose to INR 2,370 crore as against INR 2,603\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"earnings preview","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":136387,"url":"https:\/\/alphastreet.com\/india\/muthoot-finance-q2fy23-results-out-net-profit-slumps-by-11\/","url_meta":{"origin":136883,"position":5},"title":"Muthoot Finance Q2FY23 results out: Net profit slumps by 11%","author":"Chirag Gupta","date":"November 10, 2022","format":false,"excerpt":"Muthoot Finance reported a net profit of INR 892 crore for the quarter ending September 30, 2022 (Q2FY23) period compared to a profit of INR 990 crore a year same quarter -- registering a decline of 11%. However, sequentially, the Q2 PAT climbed by 8.13% from INR 802 crore in\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"trending stocks high volatility","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/136883","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1863"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=136883"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/136883\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/49407"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=136883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=136883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=136883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}