Biocon net up 48% in Q1

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Bengaluru : India's leading biotechnology firm Biocon Ltd on Thursday reported Rs 120 crore consolidated net profit for the first quarter (Q1) of the fiscal 2018-19, registering 48 per cent growth annually from Rs 81 crore in the same period year ago.

Sequentially, however, net profit declined 8.3 per cent from Rs 130 crore in last quarter.

"Consolidated revenue from operations grew 20 per cent annually to Rs 1,124 crore for the quarter (Q1) under review from Rs 934 crore in the like period year ago but declined 3.9 per cent sequentially from Rs 1,170 crore quarter ago," said the city-based pharma firm in a regulatory filing on the BSE.

On standalone, net income zoomed 318 per cent year-on-year (YoY) to Rs 230 crore in Q1 from Rs 55 crore in the same period year ago and 219 per cent sequentially from Rs 72 crore quarter ago.

Similarly, standalone revenue from operations grew 15.6 per cent YoY to Rs 672 crore for Q1 from Rs 581 crore in the same period year ago and 3.7 per cent sequentially from Rs 648 crore quarter ago.

The company's blue-chip scrip of Rs 5 face value gained Rs 5.30 per share to close at Rs 559.10 at the end of Thursday's trading on the BSE as against Wednesday's closing rate of 553.80 and opening price of Rs 552.