Biocon Q4 net up 75% at Rs 135 cr

Issues bonus shares in the ratio of 2:1

Biocon, India’s largest biopharma firm, said its fourth quarter profits (before exceptional items) rose 75 per cent to Rs 135 crore and revenue growth was flat at Rs 974 crore. 

Bengaluru-based Biocon had reported profits of Rs 77 crore (before exceptional items) on revenue of Rs 973 crore in the corresponding quarter in FY16. It had seen a one-time gain of Rs 256 crore in profits as delayed revenue recognition for an insulin product in the period.

"Our Q4 revenue at Rs 974 crore reported a muted growth due to elongated approval timelines in some emerging markets, discontinuance of some