October 26, 2017 / 1:16 PM / a year ago

India's Biocon Q2 profit more than halves

Oct 26 (Reuters) - India’s Biocon Ltd posted a 53 percent fall in quarterly profit on Thursday, missing estimates, as higher costs at its Malaysia plant and pricing pressures in its active pharmaceutical ingredients business weighed.

Profit slumped to 688 million rupees ($10.62 million) in the quarter ended Sept. 30, from 1.47 billion rupees a year earlier, the Bengaluru-headquartered drugmaker said. bit.ly/2zQoLFT

Analysts on average expected a profit of 1.14 billion rupees, according to Thomson Reuters Eikon data. ($1 = 64.8050 Indian rupees) (Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Biju Dwarakanath)

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