Biocon Q4 profit up three-fold to Rs 81 cr

Pharma major Biocon Ltd today posted a jump of over three-fold in its consolidated net profit to Rs 80.62 crore for the fourth quarter ended March 2010, compared to Rs 24.88 crore of the year-ago period.

Consolidated net sales of the biotechnology major rose to Rs 56.84 crore during the January-March period of FY'10 from Rs 466.26 crore of the same quarter a year earlier, Biocon Ltd said in a filing to the National Stock Exchange.

The Bangalore-based company has declared a dividend of 70 per cent or Rs 3.50 per share.

"I am pleased that all segments of our business have demonstrated robust growth. We are confident of sustaining good growth momentum in the years ahead, given our increasingly differentiated profile enhanced by key global partnerships," Biocon CMD Kiran Mazumdar-Shaw said.
    
For the full financial year ended March 31, 2010, Biocon reported a consolidated net profit of Rs 293.25 crore against Rs 93.12 crore of previous fiscal, registering a rise of over three-fold.
    
The company's consolidated net sales during last fiscal (2009-10) rose to Rs 2,367.82 crore from Rs 1,608.67 crore of FY'09.
    
"We have delivered strong growth in profits this fiscal. We expect our partnered R&D approach will allow us to spread our operational and financial risks across a diversified portfolio of products," Biocon's Group Finance President Murali Krishnan said.
    
Shares of Biocon surged 2.89 per cent and were quoting at Rs 302.55 in the morning trade on the stock exchange.