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Biocon net zooms by 44 per cent in Q3
Thursday, 20 January 2005, 20:30 IST
BANGALORE: Biocon Ltd, India's leading biotechnology firm, Thursday reported a 44 per cent increase in its net profit for the third quarter (October-December) of the current fiscal by posting 
500 million ($11.4 million).
This was against 350 million in the same period of the last fiscal (2003-04).
In a notification to the stock exchanges here after the company's board of directors approved the financial results for the quarter (Q3) under review, Biocon said revenue had shot up to 1.83 billion, registering an increase of 31 per cent year-on-year over the corresponding period at 1.39 billion last fiscal.
Commenting on the performance of the listed firm, Biocon chairperson Kiran Mazumdar Shaw said the company's business continued to expand and all segments 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 strategy and financial targets for the current fiscal," Shaw said.
For the first nine months (April-December) of the current fiscal, the company has posted profit after tax of 1.55 billion against 950 million year-on-year, registering an increase of 63 per cent.
Similarly, revenue had increased by 39 per cent to 5.5 billion from 3.97 billion over the same period of the last fiscal.
Source: IANS
500 million ($11.4 million).
This was against 350 million in the same period of the last fiscal (2003-04).
In a notification to the stock exchanges here after the company's board of directors approved the financial results for the quarter (Q3) under review, Biocon said revenue had shot up to 1.83 billion, registering an increase of 31 per cent year-on-year over the corresponding period at 1.39 billion last fiscal.
Commenting on the performance of the listed firm, Biocon chairperson Kiran Mazumdar Shaw said the company's business continued to expand and all segments 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 strategy and financial targets for the current fiscal," Shaw said.
For the first nine months (April-December) of the current fiscal, the company has posted profit after tax of 1.55 billion against 950 million year-on-year, registering an increase of 63 per cent.
Similarly, revenue had increased by 39 per cent to 5.5 billion from 3.97 billion over the same period of the last fiscal.
Source: IANS