| Biocon Q3 net zooms to Rs 292cr |
| BS Reporter / Mumbai January 17, 2008 |
| Biotech major Biocon reported a net profit of Rs 292 crore for the third quarter ended December 31, 2007 - a six-fold increase over the corresponding quarter last fiscal on account of sale of its enzymes unit. The company had a one-time exceptional pre-tax gain of Rs 330 crore from the sale of the enzymes unit. Sales for the quarter fell 3.7% year-on-year to Rs 237 crore. Kiran Mazumdar-Shaw, chairman and managing director, Biocon, said: "We have sustained both revenue and profit growth post the divestment of our enzymes business. We continue to increase R&D investments in the firm belief that our innovation led business strategy will deliver rich dividends to our shareholders in the foreseeable future." An important event this quarter has been the board |
