Biocon Q1 net profit rises four-fold to Rs57 crore

Biotech pharma company Biocon Ltd has posted a consolidated net profit after tax of Rs57.55 crore for the quarter ended 30 June 2009, a near four-fold increase from the Rs15 crore net profit after tax reported for the same quarter in the previous financial year.

Total income of the company increased to Rs505.29 crore in April-June 2009-10 from Rs276.53 crore for the quarter ended 30 June 2008-09, Biocon said in a filing with the Bombay Stock Exchange (BSE).

On a standalone basis, the company posted a 58.44 per cent jump in net profit at Rs47.55 crore for the June quarter, against Rs30.01 crore in the same period last year.

Total income rose to Rs258.71 crore in the quarter under review, against Rs237.46 crore in the same period of the previous fiscal.

"We are making excellent progress on the research front with several programmes approaching a licensing potential. We expect the quarters ahead to remain robust and we hope to end the year on a strong note both in revenues and profitability," Biocon CMD Kiran Mazumdar.