Q4: Biocon's net profit dips 62 pc

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Biocon
Bangalore, Apr 28: Biocon, the Bangalore based biotechnology firm on Tuesday, Apr 28 posted a net profit of Rs 24.88 crore for the quarter ended Mar 31, 2009, a 62 pc decline over the same period a year ago.

"(The) fiscal year '09 has been one of our most challenging years wherein foreign currency volatility made it difficult to manage a sharply depreciating rupee resulting in large MTM losses," said Kiran Mazumdar Shaw, the Biocon Chairman and Managing Director.

In the quarter ended on Mar 31, 2008 Biocon had a net profit of Rs 65.30 cr. The company's consolidated total income rose to Rs 486.56 crore for the fourth quarter ended Mar 31, 2009, from Rs 279.22 cr a year ago, Biocon said in a filing to the Bombay Stock Exchange.

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