January 24, 2018 / 1:16 PM / a month ago

Biocon third-quarter profit plunges 46 percent

(Reuters) - Biocon Ltd, India’s biggest biotechnology firm, posted a 46 percent fall in third-quarter profit on Wednesday hurt by an increase in interest and depreciation costs related to its Malaysia operations.

Profit fell to 919 million rupees ($14.43 million) in the quarter ended Dec. 31, compared with 1.71 billion rupees a year earlier. bit.ly/2rvTd8e

Revenue from operations rose 1.3 percent to 10.58 billion rupees.

($1 = 63.6900 Indian rupees)

Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Supriya Kurane

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