Biocon bottomline up 42% to Rs 198 crore

BS 200 SCORECARD

Biotech major Biocon has registered a 2.2 per cent dip in consolidated net profit at Rs 42.37 crore and a 22.7 per cent growth in net sales at Rs 178 crore for the fourth quarter of 2004-05, compared with the same quarter of 2003-04.

The company has posted a 42 per cent increase in net profit to Rs 198 crore (Rs 139 crore in FY 2003-04) and a 34 per cent rise in net sales to Rs 728 crore (Rs 542 crore) for financial year 2005.

Earnings per share (EPS) increased by 42 per cent to Rs 19.8 for FY 2005 as against Rs 13.9 for FY 2004. The company has declared a dividend of 40 per cent for the year 2004-05.

For the company, revenues from the biopharma business improved by 28 per cent to Rs 557 crore, contributing 77 per cent to total revenues in FY 2005.

Revenues from custom and clinical research was higher by 70 per cent to Rs 66 crore. The enzymes business saw an increase of 34 per cent to Rs 90 crore from Rs 67 crore.

"The results reported have exceeded our internal profit targets. Given the increased capacity coming on stream in financial year 2005-06, we are confident of achieving, we are confident of achieving healthy sales growth, despite the pricing pressure on our Statins business," Kiran Mazumdar Shaw, chairman and managing director, Biocon, said.

"The outlook for the year ahead is very positive. We expect statins, immunosuppressants, insulin and branded formulations to deliver significant growth in addition to research services," she added.