Third quarter sales for Biocon were lower than street's expectations (Rs 700 crore vs Rs 759 crore) but EBITDA was higher. This was due to margin expansion that resulted from temporary low R&D spend, said Kiran Mazumdar-Shaw. The company would maintain margins in the fourth quarter by changing product mix and focusing on high-margin products.
first published: Jan 23, 2014 01:48 pm
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