Biocon Q4 consolidated net surges 78 pc

Biotechnology firm Biocon today reported a 78.22 per cent jump in consolidated net profit at Rs 201.54 crore for the fourth quarter ended March 31 helped by exceptional gains of Rs 105.06 crore.
The company had posted a net profit of Rs 113.08 crore in the same period of the previous fiscal.
During the quarter, Biocon reported exceptional gain of Rs 105.06 crore on account of share sale in its research services subsidiary Syngene.
Net sales of the company rose to Rs 830.38 crore for the quarter, up 14.91 per cent against Rs 722.59 crore for the same period a year ago, Biocon said in a statement.

Biocon Chairman and Managing Director Kiran Mazumdar-Shaw said: "Biocon closed the year with a stronger performance in Q4 on the back of a record quarterly performance by our research services subsidiary, Syngene and an improved performance of our biopharma business. We also recognised exceptional income from the sale of shares of Syngene."
On future outlook Shaw said, "As we move into FY16, we are clearly seeing our biosimilar strategy playing out with greater clarity, credibility and traction visible across our portfolio of Biologics as they advance in clinical development. We continue to make investments in R&D as a strong future value driver."

For the year ended March 31, the company's net profit increased by 20.23 per cent to Rs 497.43 crore compared with Rs 413.72 crore in the last fiscal.
The company's net sales for the year rose to Rs 3,059.97 crore, up 7.26 per cent against Rs 2,852.72 crore in the previous year.
Biocon shares were trading at Rs 456.40 a piece on the BSE, up 3.04 per cent from its previous close.