Biocon Q4 net jumps 25% to Rs 101 cr

Bangalore-headquartered biopharmaceutical company, Biocon Ltd has registered a 25 per cent rise in its net profit to Rs 101 crore in the fourth quarter of financial year 2010-11 as compared with Rs 81 crore in the corresponding period last year.

The growth in net profit is attributed to Rs 32 crore of licensing income from various out-licensing deals along with sound growth in biopharmaceutical and contract research business. Other income of Rs 15 crore also contributed towards net numbers. Total income of the company rose by eight per cent to Rs 717 crore during this period as compared with Rs 666 crore reported in the same period last year. Operating profit in this quarter increased by 14 per cent to Rs 158 crore against Rs 139 crore reported a year ago.

On annual basis, Biocon registered a 25 per cent rise in its net profit to Rs 368 crore in 2010-11 as compared with Rs 293 crore reported in the same period last year. Total income of the company rose by 17 per cent to Rs 2,814 crore against Rs 2,405 crore reported an year earlier.

“The last financial year has delivered strong multi-sectoral growth. Emerging markets have realised significant and sustained growth for active pharmaceutical ingredients, while our branded formulations have scripted business success,” said Kiran Mazumdar-Shaw, chairman and managing director. She said the licensing income from Pfizer and others had contributed materially to profit generation in 2010-11.

The company also witnessed business traction in most of its verticals in the fourth quarter of last financial year. Biopharmaceutical business of the company grew by 26 per cent year-on-year (y-o-y) basis on the back of strong growth in immunosuppressants, statins and the branded formulation segment.

“Our efforts to be an integrated research service provider have paid up in this quarter. Top line of our research units — Syngene and Clinigene — have shown a 20 per cent growth rate in the fourth quarter,” said Shaw. She said the trend was expected to continue in this segment.