Biocon net up 17% in first quarter

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Bengaluru, July 22 (IANS) Leading biotech major Biocon Ltd on Friday reported Rs 147 crore consolidated net profit for April-June quarter (first) of fiscal (2016-17), registering 17 per cent annual growth over like period year ago.

The city-based company said consolidated total revenue increased 11 per cent year-on-year (YoY) to Rs 952 crore for the quarter under review (Q1) from Rs 857 crore in same period year ago.

Total revenue includes net sales of Rs 903 crore, up 10 per cent YoY from Rs. 825 crore, other income of Rs 49 crore, an increase of 52 per cent YoY from Rs 32 crore in same quarter year ago.

Ebitda (earnings before interest, tax, depreciation and amortisation) for Q1 has increased 15 per cent YoY to Rs 271 crore from Rs.236 crore same quarter year ago though its margin remained flat at 28 per cent YoY. Net profit margin also remained flat at 15 per cent YoY.

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