GOOD READS

Biocon group net up 51 percent in fiscal 2013

Bangalore, April 26 (IANS) 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.

On standalone basis, the parent company, however, reported a modest eight percent YoY net profit growth of Rs.276 crore from Rs.256 crore year ago and income of Rs.1,989 crore for last fiscal, which is 23 percent up YoY from Rs.1,622 crore year ago.

"Fiscal 2013 closed on a very strong note, with growth driven by research services, branded formulations and bisimilar services, led by generic insulins," Biocon chairperson Kiran Mazumdar Shaw told reporters.

Biopharama business grew 10 percent YoY to Rs.1,523 crore, while branded formulations 34 percent YoY to 347 crore and research services (Syngene & Clinigene) 36 percent YoY to Rs.557 crore.

"Our insulin franchise continues to garner market share across India and emerging markets and accounts for 10 percent of our sales," Shaw said.

The company extended partenership with the US-based specialty pharma firm Mylan by re-licensing its generic insulins and thereby reducing development costs involved in global commercialisation.

"Looking ahead, we intend to sustain the growth momentum by optimising small molecules portfolio, expanding insulin footprint in emerging markets and continuing to deliver robust growth in branded formulations and research services," Shaw asserted.

The company received $200 million (Rs.1,100 crore) from Mylan as an upfront for further development of generic insulins.

For fourth quarter (January-March), total revenue grew only four percent YoY to Rs.649 crore from Rs.622 crore year ago, but declined two percent sequentially from Rs.660 crore posted in October-December of fiscal under review.

Net profit for fourth quarter (Q4), however, shot up 170 percent sequentially to Rs.249 crore from Rs.92 crore in third quarter (Q3) and 154 percent YoY from Rs.98 crore in like quarter year ago.

Though operating margin or earnings before interest, depreciation and amortization (Ebitda) increased three percent YoY to Rs.596 crore from Rs.578 crore year ago, it declined sequentially 26 percent to Rs.124 crore in fourth quarter (Q4) from Rs.167 crore in third quarter (Q3) and 21 percent YoY from Rs.156 crore in same quarter year ago.

The company's board of directors recommended 100 percent dividend of Rs.5 per share and 50 percent special dividend of Rs.2.50 per share in pursuant to the re-licensing of its insulin analogs portfolio.

Quiz: How well do you know India's economy?

Question 1

Which of these products is India the world's largest producer of?

Poll Choice Options
  • Wheat
  • Rice
  • Milk
1
2
3
4
5
6
7
8
9
10

Latest News

  • Hyundai Motor Q1 profit unchanged; misses estimates

    South Korea's Hyundai Motor Co on Thursday missed analyst estimates by posting nearly flat net profit, as lacklustre U.S. performance offset increased sales in Korea and China. Hyundai, the world's fifth-biggest ... …

  • Apple resets the clock as investors await next big thing

    Apple Inc just bought itself some much-needed time. On Wednesday, the company surprised Wall Street with news that it sold more iPhones in the March quarter than even the most bullish analysts had expected. To top it all off, Apple unveiled a 7-for-1 stock split that should go down well with individuals who want a piece of a household name but could not afford to fork over $500 a share. The litany of positive numbers sent Apple's long-stagnant shares up 8 percent. …

  • Bharti Infratel Q4 net profit jumps 64 percent
    Bharti Infratel Q4 net profit jumps 64 percent

    Telecommunications tower operator Bharti Infratel Ltd reported a 64 percent jump in its quarterly profit, beating estimates on higher revenue from leasing mobile phone masts to phone carriers. Bharti Infratel, ... …

  • Facebook Q1 revenue grows 72 percent on rising mobile ads
    Facebook Q1 revenue grows 72 percent on rising mobile ads

    Facebook Inc's (FB.O) mobile advertising business accelerated in the first three months of the year, helping the Internet social networking company top Wall Street's financial targets. Shares of Facebook were up nearly 3 percent at $63.05 in after-hours trading on Wednesday. Facebook said that mobile ads represented 59 percent of its ad revenue in the first quarter, up from 30 percent in the year-ago period. Facebook's overall revenue grew 72 percent year-on-year to $2.5 billion in the first …

  • Apple expands buybacks by $30 billion, OKs 7-for-1 stock split
    Apple expands buybacks by $30 billion, OKs 7-for-1 stock split

    Apple Inc (AAPL.O) has approved another $30 billion in share buybacks till the end of 2015 and authorized a rarely seen seven-for-one stock split, addressing calls to share more of its cash hoard while broadening the stock's appeal to individual investors. Activist investor Carl Icahn, who had famously called on the iPhone maker to boost its buyback program, tweeted his approval of the move on Wednesday. On Wednesday, Apple reported sales of 43.7 million iPhones in the quarter ended March, …

IN-DEPTH ANALYSIS & INTERVIEWS

  • Too good to be true?

    Developers are offering lucrative buyback schemes. But such promises may not be always kept. …

  • Leaderspeak with Vikram Limaye

    Vikram Limaye MD & CEO, IDFC Ltd shares many firsts from his life. …

  • The Greening of the House of Tatas

    How a dedicated team converted a 90-year-old heritage structure into a benchmark for environment-friendly buildings. …

  • Appy Voting

    Mobile and online apps, seeking to inform or influence voters, have been more active than ever before in this election. …

  • In the crosshairs

    Why the future of FDI in multi-brand retail looks bleak after the polls. …

  • Deserving the honour

    How do the winners of the two new banking licences - microfinance lender Bandhan Financial Services and infra institution IDFC Ltd - measure up to the challenges of operating as full-fledged banks? …

  • Falling in line

    Global investors gear up to working with Narendra Modi despite reservations about his secular credentials. …

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    16.52-0.33-1.96%
    UNITECH.BO
    14.31-0.27-1.85%
    SUZLON.BO
    120.40+7.00+6.17%
    FRL.BO
    66.05+4.10+6.62%
    MANGCHEM.BO
    54.40+1.65+3.13%
    HCLINFO.BO
  • Price % Gainers
    Price % Gainers
    NamePriceChange% Chg
    16.20+2.70+20.00%
    JAGSONPH.BO
    53.50+8.90+19.96%
    RUSHIL.BO
    40.45+6.45+18.97%
    RCIIND.BO
    63.95+8.90+16.17%
    MRPL.BO
    24.00+3.10+14.83%
    NELCAST.BO
  • Price % Losers
    Price % Losers
    NamePriceChange% Chg
    -10.95-100.00%
    4THGEN.BO
    -17.30-100.00%
    ALFAICA.BO
    -16.81-100.00%
    AMAL.BO
    -11.73-100.00%
    BORAX.BO
    -29.95-100.00%
    BRADYM.BO
  •  
    Recent Quotes
    Symbol Price Change % ChgChart 
    Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
    You need to enable your browser cookies to view your most recent quotes.
  • Recent Quotes News

    •  
      Sign-in to view quotes in your portfolios.