Biocon Q4 net spikes 79 pc to Rs 361 crore

Biotechnology firm Biocon today reported a 79.1 per cent increase in its net profit at Rs 360.9 crore for the fourth quarter ended March on top of higher sales and exceptional income.
The company had posted a net profit of Rs 201.5 crore in the same period of the previous fiscal.
Net sales rose to Rs 970.3 crore for the fourth quarter, up 16.84 per cent, from Rs 830.4 crore a year ago, Biocon said in a BSE filing.
During the quarter under review, Biocon reported exceptional income of Rs 268.4 crore.
For the year to March 2016, net profit stood at Rs 896.1 crore compared with Rs 497.4 crore in 2014-15.

Net sales for the just-concluded fiscal rose to Rs 3,405.9 crore as against Rs 3,060 crore in the previous year.
In a separate filing, Biocon also announced appointment of M Damodaran as additional independent director of the company.
The stock was trading up 1.32 per cent at Rs 571.75 on BSE at 1240 hours.