Financial Daily from THE HINDU group of publications
Friday, Jan 21, 2005
Financial Daily from THE HINDU group of publications Friday, Jan 21, 2005 |
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Corporate Results
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Bio-tech & Genetics Biocon Q3 net rises 44 pc Our Bureau
Ms Kiran Mazumdar-Shaw, Chairperson, Biocon Ltd, arriving to address a press conference in Bangalore on Thursday. Mr Raymond E. Watkins, Vice-President of Operations, Vaccinex (left) and Mr Deepak M. Sahasrabudhe, Co founder, Vaccinex, are also seen. — G.R.N. Somashekar
Bangalore , Jan. 20 BIOCON Ltd on Thursday reported third quarter net profit of Rs 50.3 crore or a growth of 44 per cent over the third quarter PAT of Rs 35 crore. Total income for the October-December 2004 quarter grew 31 per cent to Rs 183 crore, up from Rs 139 crore. Announcing the results, the Biocon CMD, Ms Kiran Mazumdar-Shaw, said, "Our business continues to expand and all sectors recorded healthy growth despite the challenging conditions in the European statins market. Our recently announced collaborations with Nobex and Vaccinex have both made a good start. We remain on track in meeting our strategic and financial targets for the year." The revenue growth was led by biopharmaceuticals which accounted for Rs 138 crore of the total sales, up by 22 per cent from Rs 113 crore during the same period last fiscal. The enzymes business contributed Rs 22 crore, up 35 per cent from Rs 16 crore. Contract research showed 93 per cent growth, increasing from Rs 10 crore to Rs 18 crore. EPS was Rs 5 compared to Rs 3.9. For the nine months ended December 2004, Biocon's revenues at Rs 550 crore crossed the full-year 2003-04 revenues of Rs 542 crore, posting a growth of 39 per cent over Rs 397 crore made during the first three quarters of 2003-04. Net nine-month profit grew to Rs 155 crore, up 63 per cent over Rs 95 crore of the last fiscal. The biopharmaceuticals business rose 33 per cent to Rs 426 crore, accounting for 79 per cent of the total sales.
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