Biocon group reports Rs. 81 crore net profit
21.01.10
The Biocon crowd (including its German subsidiary AxiCorp) on Thursday reported a amount income of Rs.642 crore for the quarter ended December 31, 2009, up by 42 per cent year-on-year. The profit after tax went up by 187 per cent to Rs.81 crore.
The operating perimeter for the period was 30 per cent with earning before interest and depreciation at Rs.328 crore, a 21 per cent burgeon. For the first nine months of the current year, the group earned a total profits of Rs.1,739 crore, an annualised growth of 47 per cent.
Commenting on the results, Chairman and Managing Head Kiran Mazumdar-Shaw said “Biocon has delivered definite growth in all its business segments and we are confident of maintaining this momentum. We have filed a U.S. IND persistence for our oral insulin, IN 105, a result of our research programmes.” The institution’s R& D spend as a proportion of standalone revenue is now 8 per cent.
Biocon did well in the Stock Exchange with its branded formulations showing a 37 per cent annualised flowering and research services delivering top-line growth of 32 per cent. In adding up to diabetes therapeutics, the company initiated trials on cervical cancer patients to evaluation its BIOMab EGFR medication and its cardiology drug Clotide, launched 12 months ago garnered a chief market share. Chief Operating officer, Arun Chandavarkar said there was continuing improvement in marketing the portfolio of insulin preparations in emerging markets, branded products within India and other formulations globally. The blurred on oral insulin and biosimilar antibodies had paid off. As of December 2009, India and the emerging markets accounted for 40 per cent of consolidated revenues. Biocon’s subsidiary Syngene’s clients were reinitiating programmes put on keep last year and new customers were also added.
Source: The Hindu
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