Biotechnology giant Biocon on Friday reported an impressive jump of more than two-fold in its consolidated net profit for the quarter through March 31, thanks to a steep jump in exceptional income.
Biocon announced that its consolidated net profit jumped to Rs 248.61 crore during the January to march quarter of 2013, as compared with Rs 97.80 crore in the same period of the previous year.
Bangalore, April 26 : India's biotechnology major Biocon Ltd posted consolidated net profit of Rs. 509 crore for fiscal 2012-13, registering a whopping 51 percent year-on-year (YoY) growth over previous fiscal (2011-12) at Rs. 338 crore.
In a regulatory filing to the Bombay Stock Exchange (BSE) Friday, the Bangalore-based firm said consolidated income for the fiscal (FY 2013) under review grew 18 percent YoY to Rs. 2,538 crore from Rs. 2,148 crore year ago.
Indian biotechnology major, Biotech has said on Friday that its net profit has risen by 9.38 per cent to Rs. 92.81 crore during the third quarter of the current financial year.
The Bangalore based biotechnology firm has recorded a net profit of Rs. 84.85 crore during the same period of the previous financial year. The net sales of the company was recorded at Rs. 634.22 crore in the third quarter from October to December, 2012 compared to Rs. 516.59 crore recorded during the third quarter of the previous year.
India biotechnology major, Biocon announced on Thursday that it has received approval for selling Novel Biologic Itolizumab that is used in the treatment of chronic plaque Psoriasis.
The company said that it has received marketing authorisation from the Drugs Controller General of India (DCGI) for the drug, which is an anti CD6 molecule and a first in class therapy with a unique Mechanism of Action (MOA). The approval for Itolizumab comes after a 52 week Phase III multi-centric clinical study, which was carried out in the country.
Stock in Biocon gained Rs 6.10, or 1.99 per cent, a share after the company announced that it had hit an option agreement with Bristol-Myers Squibb Co for its prandial oral insulin product candidate called IN-105.
The stock hit an intraday high of Rs 321.50 and a low of Rs 311.10. In the prior trading session, the stock gained Rs 12.25 or 4.16 per cent to close at Rs 306.80 a share.
Biotech giant Biocon has reported a better-than-expected second quarter net profit growth, thanks to better export realization owing to a depreciating rupee.
The Bangalore-based biotechnology company said its net profit for the second quarter through September 30 jumped 4.6 per cent to Rs 90 crore, from the corresponding period of previous year.
Total revenues jumped 19 per cent to settle at Rs 642 crore, while branded formulations business enjoyed a growth of 42 per cent to Rs 91 crore. Biopharma segment grew 8 per cent to Rs 372 crore.
Indian biotechnology major, Biocon has reported a 4.7 per cent increase in net profit, ahead of of market expectations, during the second quarter of the financial year.
The Bangalore-based company said that its consolidated net profit increased to Rs 900 million to $16.65 million during the second quarter till September, 2012 compared to Rs 860 million rupees a year earlier reported in the same quarter of the previous year. The revenues of the firm increased 19.3 per cent to 6.42 billion rupees. Market analysts were expecting a net profit of 863.7 million rupees, according to Thomson Reuters I/B/E/S.
India's largest biotechnology company by revenue, Biocon has recorded a growth of 12.42 per cent in consolidated net profits to Rs 78.80 crore during the first quarter of the financial year compared to the same quarter in the previous year but recorded a fall of 19 per cent from the previous quarter.
BSE Sensex breached 16,000 level in today's trading session and closed at four month low. BSE Sensex closed 1.83 per cent lower at 16030. For BSE Sensex, 52-week low is 15,190 and if the economic troubles continue, market experts believe that we may see further lows for Indian market. In the past three months, the markets have declined 11.7 per cent.
Among sectors, Automobiles, Banking, Capital Goods, Consumer Durables and Metals were major losers. All sectoral indices closed in the red.
India's largest biotechnology company by revenue, Biocon has recorded an increase of 26 per cent in consolidated sales to 5.89 billion rupees in the fourth quarter of the fiscal year.
The Bangalore-based company had recorded consolidated sales at 4.66 billion rupees in the same quarter of the previous year. Biocon beat analyst expectations even as its fourth-quarter consolidated net profit fell by 3 per cent in the quarter because it recorded a strong boost in the other operating income
A new Integrated Research and Development Centre of the Indian biotechnology major, Biocon has been inaugurated by internationally renowned Nobel Laureate Prof Kurt Wuthrich.
Biocon chief Kiran Mazumdar Shaw said at the event that 300 scientists would be employed at the new Biocon Research Centre (BRC). However, she did not define the timeframe for recruiting the scientists for the centre. Shaw also said that BRC is equipped with cutting edge instrumentation for extensive molecular and functional characterisation of Biologics.
World's largest drugmaker, Pfizer has announced its exit from a deal under which it was to sell insulin products made by Biocon, which is India's leading biotechnology company.
The two companies released a joint statement announcing the scrapping of the deal and cited individual priorities as the reason for ending of the deal. Biocon was expected to earn millions of dollars in royalties through the deal and now it is left without any partner to distribute its products in the US and other global markets.
India's leading biotechnology company, Biocon Ltd has reported a fall of 15 per cent in net profit in the quarter till December 2011 mainly due to lower licensing income.
Biocon, which is based in Bangalore, has said that its consolidated net profit fell to 848 million rupees in the third quarter till December 2011 compared to 1.01 billion rupees in the same period previous year.
The total revenue for the company increased 3 per cent in October-December quarter. The company's licensing fees and income fell to 292 million rupees from 768 million rupees in the previous year.
Bangalore based biotechnology major, Biocon is optimistic about the branded formulations business, which recorded a strong growth of 37 percent in the half of the current fiscal year.
Kiran Mazumdar Shaw, chairman and managing director said "We recently launched a reusable insulin delivery device which will further propel sales in the branded formulations vertical."
Indian biotechnology giant, Biocom has reported a fall of 4 percent in its quarterly profit mainly due to increases expenses on higher energy costs and wages.
The company said that its consolidated net profit fell to 857 million rupees in the second quarter of the financial year compared to 892.2 million in the year ago period. However, the company sees an opportunity in strong demand from branded formulations.
The net profit of biotechnology company Biocon decreased by 9% in a year amounting to Rs 70.05 crore, but the company witnessed an increase in the sales by 10% amounting to Rs 441.68 crore. The low income earned by the company had affected the share prices of the company, marked by a fall of 2.8% at Rs 360.15 on NSE.
Bangalore, April 28 : Indian biopharma major Biocon Ltd posted consolidated net profit of Rs. 101 crore for fourth quarter (January-March) of fiscal 2010-11, registering 25 percent year-on-year (YoY) growth.
In a regulatory filing Thursday, the country's leading biotech firm said consolidated revenue for the quarter (Q4) under review, however, grew by eight percent YoY to Rs. 717 crore from Rs. 666 crore same quarter year ago.
Technical analyst D Prasad maintained 'buy' rating on Biocon Industries Limited stock to achieve a target of Rs 394.
According to analyst, the stock can be purchased above Rs 381 with a stop loss of Rs 373.
The stock of the company, on January 19, closed at Rs 377.50 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 464.60 and a low of Rs 256 on BSE.
Current EPS & P/E ratio stood at 16.37 and 23.70 respectively.
Biocon has announced its outcomes for the three month period ended December 2010.
Stock market analyst Salil Sharma has maintained 'buy' rating on Biocon Ltd stock with a target of Rs 354
According to analyst, the interested investors can buy the stock with stop loss of Rs 340.
The stock of the company, on Sep 03, closed at Rs 345.50 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 356 and a low of Rs 230 on BSE.
Current EPS & P/E ratio stood at 15.62 and 22.22 respectively.
Biocon has recorded a net profit of Rs 77 crore for April-June quarter of this fiscal (20010-11), recording year-on-year (YoY) expansion of 33%as against Rs 58 crore in the same period of last year.
In a regulatory filing, the top biotechnology firm stated that its total income grew by 33%YoY to Rs 672 crore for the three month period ended June 2010 as against Rs 505 crore during the same period of 2009-10.
The company's EBITDA (earnings before interest, taxes, depreciation and amortization) at Rs. 141 crore grew 27 percent YoY from Rs. 111 crore year ago.