Biocon net soars 36% to Rs 53 cr

CORPORATE SCORECARD

Bangalore-based biotech major Biocon's focus on statins, contract services and licensing has resulted in a 36 per cent increase in net profit to Rs 53 crore for the first quarter ending June 30, compared with Rs 39 crore reported in the corresponding period of the previous financial year.

The company's revenues grew by 28 per cent to Rs 271 crore compared with Rs 212 crore in the same period last year.

Revenues from biopharmaceuticals grew 28 per cent to Rs 206 crore, from research services and licensing it grew 52 per cent to Rs 44 crore, but its enzymes business declined by 3 per cent to Rs 21 crore.

EBITDA was up 40 per cent at Rs 77 crore (Rs 55 crore). EPS was up at Rs 5.3 (Rs 3.9).

Commenting on the results, Kiran Mazumdar-shaw, chairman and managing director, Biocon, said, "All business segments delivered robust growth. Biopharma performed strongly in particular. Margins in services were restrained by currency appreciation. Branded products for nephrology, oncology and cardio-diabetes performed strongly."