Biocon Q1 net slips to Rs 30.01 cr

New Delhi, Jul 17: Biocon Ltd on Thursday, July 17 said its net profit has dipped to Rs 30.01 crore for the quarter ended June 2008 as compared to Rs 44.86 crore for the same period a year ago.

Total income, however, increased 2.53 per cent to Rs 237.46 crore for Q1 FY09 from Rs 231.59 crore for the same quarter last year. The Group's net profit declined to Rs 15.02 crore for the quarter ended June 2008 as compared to Rs 53.00 crore for the same quarter last year. Total income increased 1.58 per cent to Rs 276.53 crore for Q1 FY09 from Rs 272.21 crore for the same quarter last year.

''The Q1 FY09 performance has been unfortunately impacted by rupee volatility which has seen us make a Mark to Market provision of Rs 26 crore,'' company CMD Kiran Mazumdar-Shaw said in a statement.

The company plans to launch Abraxane on July 18. It is used for treatment of breast cancer after failure of combination therapy for metastatic disease or relapse within six months of adjuvant chemotherapy.

UNI