Biocon reports Rs 80.6 cr net profit

Biocon reports Rs 80.6 cr net profit

Consolidated net sales rose to Rs 657 crore in the period under review from Rs 466 crore in the corresponding period a year ago, an increase of 41 per cent. 

Sustaining growth

Chairman & Managing Director Kiran Mazumdar-Shaw said “We are confident of sustaining good growth momentum in the years ahead given our increasingly differentiated profile enhanced by key global partnerships. This offers us large and lucrative opportunities in both emerging and developed markets.

Biocon sees itself as one of the few Asian biopharma companies that can emerge as an innovator and simultaneously develop a leadership position in biosimilars.”  For fiscal year ended March 31, 2010, the company reported a consolidated net profit of Rs 293.25 crore against Rs 93.12 crore of the previous financial year.

Biocon’s consolidated net sales during the fiscal FY ‘10 rose to Rs 2,367.82 crore as against Rs 1,608.67 crore of FY’09. The board has recommended dividend of 70 per cent (Rs 3.50) per share on the enhanced share capital of the company.