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Article: Bangalore,Oct 19 (PTI) Biotech major Biocon Limited today reported a 22 per cent decline in net profit at Rs 82 crore for the half year ended Sep 30, 2005, on the back of challenging pricing conditions in the European statins market.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- October 19, 2005
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While the company's revenues stood at Rs 377 crore and consolidated sales grew by four per cent over H1 FY05, operating profits fell by eight per cent.
Despite this, the Profit after tax margins were maintained at a healthy 22 per cent, the company's CMD Kiran Mazumdar-Shaw told a news conference.
"Operating results were largely affected by challenging pricing conditions in the European statins market. Additionally, a higher effective tax charge led to a greater erosion of PAT," she said.
Within the half year, Q2 performance was significantly stronger than Q1; ...