Biocon Q4 Net Profit Dips 3 Percent to 98 Crore

MUMBAI: Biotech firm Biocon reported about 3 per cent decline in consolidated net profit at Rs 97.8 crore for the fourth quarter ended March 31. It had posted net profit of Rs 100.81 crore in the year- ago period, Biocon said in a filing to the BSE. Biocon's consolidated Q4 net sales, however increased to Rs 589.22 crore, from Rs 466.45 crore in the same period of the 2010-11 fiscal. It said the firm's directors have recommended a final dividend of 100 per cent (Rs 5 per share) on the share capital of the company, subject to the approval of the members at the ensuing annual general meeting. Shares of the company were trading at Rs 235.20, up 2.28 per cent from the previous close on the BSE at 1130 hours. For the 2011-12 financial year, the company reported a dip of 7.91 per cent in consolidated net profit at Rs 338.43 crore, as against Rs 367.52 crore in 2010-11.