Biocon net up 25 pc at Rs 101-cr in Q4

Bangalore-based biotechnology company Biocon Ltd. said Thursday its biggest net profit rose 25 per cent Rs 101 crore in the fourth quarter ended March 31, 2011 as strong sales of biopharmaceutical products helped offset soft sales in German unity. The company recorded net of Rs 80.6 crore in the corresponding quarter last year.

Company's consolidated total income increased from Rs 665.66 crore for the quarter ended March 31, 2010 at Rs 716.5 crore for the quarter ended March 31, 2011, an increase of 7.64 percent.

During the financial year 2010-11, the most important biotechnology registered growth of 17 percent of its total income stood at Rs 2,814 crore from Rs 2,404.8 crore in FY10. Net income rose by 26 per cent of Rs 368 crore to Rs 293 crore from network that is sent to the previous year.

"FY11 was generated strong sectoral growth. Emerging markets have experienced significant and sustained growth in our API, while our branded formulations have indent company's success in the Indian market. Our business support services and research Syngene Clinigene marked a return. We are convinced that this will generate solid profitability next year. To support our expanding activities, we hope to increase our force by 1,000 in FY12 ", Kiran Mazumdar-Shaw, Chairman and CEO of Biocon, said .

Biocon's Board of Directors, which met on Thursday, has declared a dividend of 30 (Rs 1.50 per share). A final dividend of 60 percent (3.00 rupees per share), was also recommended by the Commission, subject to the approval of the members so that the total dividend for the year to 90 percent (R 4, 50 per share).