Biocon last quarter profit dips 61 percent

April 28th, 2009 - 3:52 pm ICT by IANS  

Bangalore, April 28 (IANS) Biotechnology major Biocon Tuesday announced a decrease of over 61 percent in its net profit for the quarter ending March 31.
In a regulatory statement, Biocon said its unaudited net profit for the last quarter was Rs.241.4 million, compared to Rs.620.3 million - a decrease of over 61 percent. But the total income increase marginally by about 1.3 percent to Rs.2.39 billion.

Similarly, the audited net profit for the entire year 2008-09 decreased 74.29 percent to Rs.1.1 billion from Rs.4.34 billion. At the same time, the overall income rose 6.23 percent to Rs.9.87 billion.

For the group, the unaudited consolidated net profit for the last quarter of 2008-09 dipped 62 percent to Rs.248.8 million, compared to the same period the previous year.

The total income, however, rose impressively by 74.2 percent from Rs.2.79 billion in the last quarter of 20007-08 to Rs.4.8 billion in the same quarter last fiscal.

The consolidated net profit for the entire year nosedived 79.9 percent to just Rs.931.2 million compared to Rs.4.6 billion in 2007-08. This was despite the total income rising 53.4 percent to Rs.16.7 billion from Rs.10.9 billion the previous year.

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