Biocon net dips 20% to Rs 39 cr

BS 200 SCORECARD

Biotechnology major Biocon has registered a 20 per cent dip in its net profit to Rs 39 crore for Q1 FY2006 against Rs 49 crore for Q1 FY 2005. The company posted flat growth in its sales to Rs 174 crore for Q1 FY 2006 against a similar figure in Q1 FY 2005.

Earnings per share also dipped by 20 per cent to Rs 3.9 for Q1 FY 2006 against Rs 4.9 for Q1 FY 2005. In the Q1 FY 2006, company's biopharmaceutical sales dipped by 3 per cent to Rs 135 crore against Rs 140 crore in Q1 FY 2005. Enzymes sales was flat Rs 20 crore.

However, contact research services from Syngene and Clinigene registered a 35 per cent growth over Q1 FY 2005 and matched the previous quarter.

The decline in PAT is mainly attributed to higher tax charge in the current quarter owing to a significant portion of exports sales being routed through domestic channels and also owing to reduced treasury income of Rs 1 crore commensurate with the deployment of IPO funds in the company's expansion programme, she added.