Biocon Q2 net profit down 54 per cent

Mumbai, Oct 16: Biotechnology firm Biocon on Thursday, Oct 16 announced a consolidated net profit of Rs 25.02 crore for the second quarter ended September 30 compared to 53.97 crore in FY08 due to rupee volatility. It saw a decline of 54 per cent from year-ago period.

Biocon informed the Bombay Stock Exchange that its net sales rose to Rs 439.30 crore for the quarter under review, from Rs 263.66 crore last year. On a standalone basis, Biocon posted a net profit of Rs 33.53 crore for the quarter ended September 30, compared with Rs 44.01 crore for the same period last year. Total Income of the company increased to Rs 268.27 crore for the second quarter this fiscal from Rs 241.32 crore a year ago.

"Biocon's H1'09 performance has shown resilience despite being impacted by rupee volatility, which has seen us make mark-to-market provision of Rs 60 crore," Biocon Chairman and Managing Director Kiran Mazumdar Shaw said.

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