{"id":74855,"date":"2018-04-26T18:46:12","date_gmt":"2018-04-26T18:46:12","guid":{"rendered":"http:\/\/www.bnreport.com\/biocon-posts-marginal-2-per-cent-growth-in-net-profit-for-q4fy18\/"},"modified":"2018-04-26T18:46:12","modified_gmt":"2018-04-26T18:46:12","slug":"biocon-posts-marginal-2-per-cent-growth-in-net-profit-for-q4fy18","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/biocon-posts-marginal-2-per-cent-growth-in-net-profit-for-q4fy18\/","title":{"rendered":"Biocon posts marginal 2 per cent growth in net profit for Q4FY18"},"content":{"rendered":"

NEW DELHI: Indian biotechnology major Biocon<\/a> on Thursday posted around 2% increase in its net profit for the fourth quarter of the 2017-18 financial year. <\/p>\n

Biocon posted a net profit of Rs 130 crore for the quarter ended March 31, 2018. The company had recorded a net profit of Rs 127 crore for the same quarter in the last fiscal year. <\/p>\n

Its total revenue for this quarter grew 27% to 1,237 crore as compared to Rs 974 crore for the same quarter in the 2016-2017 financial year. <\/p>\n

At the same time, the companys net profit for the entire financial year dropped 39% to Rs 372 crore for FY18 compared to Rs 612 crore in FY17. <\/p>\n

Its total revenue for the 2017-18 financial year grew 6% to Rs 4,336 crore compared to Rs 4,079 crore during the previous financial year. <\/p>\n

\u201cThe muted FY18 performance was on account of continued pricing challenges in the generics business coupled with a planned plant shut down for requalification and lower licencing income in the biologics business,\u201d stated Kiran Mazumdar-Shaw, Biocons managing director. \u201cIn addition, operational expenses related to our Malaysia facility impacted the bottom line,\u201d she said. <\/p>\n

\u201cHowever, a positive Q4 is indicative of a normalized business trend. Recent approvals of our biosimilars along with the strong performance of Syngene are expected to positively impact overall performance in FY19,\u201d she added. <\/p>\n

Biocons board also recommended a final dividend of Rs 1 per equity share, according to its filing to the Bombay Stock Exchange. <\/p>\n

Share prices of Biocon on Thursday closed at Rs 663.25 apiece, up 1.45% from the previous close on the Bombay Stock Exchange, where the benchmark Sensex<\/a> ended 0.62% higher. <\/p>\n

<\/a><\/strong> <\/a><\/p>\n

Original Article<\/a><\/p>\n

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ET Markets<\/a><\/h5>\n

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