Q1: Biocon net profit jumps to Rs 54 crore

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Bangalore, Jul 24: Biotechnology firm Biocon Ltd on Thursday, Jul 23 reported that its net profit has jumped nearly four-fold at Rs 57.55 crore in the quarter ended Jun 30 2009.

The company said that the total income was up at Rs 505.29 crore when compared to latest quarter to Rs 276.53 crore in corresponding quater in the previous fiscal.

The company also said, "Financial performance, excluding Axicorp, also delivered strong numbers, with revenues increasing 14 per cent to Rs 316 crore. While, operating profits grew 45 per cent to Rs 101 crore."

Kiran Mazumdar Shaw, Chairman and Managing Director, Biocon Limited said, "Biocon's Q1 '10 performance has delivered robust growth across all segments. This, we believe, is a trend that holds good prospects for the year ahead".

She also said, "Syngene has had a particularly strong quarter, demonstrating good returns on the investments made over the last two years. We expect our pre-clinical and biologicals services to expand our customer base and increase business revenues for future quarters."

"We expect the quarters ahead to remain robust and we hope to end the year on a note of strong growth both in revenues and profitability", she added.

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