Biocon Oct-Dec net profit up 500% YoY
Biocon Ltd reported a net profit of Rs 284.04 crore for the quarter ended December 31, 2007, a surge of 497.85 per cent from Rs 47.51 crore in the same quarter of pervious year.
By INDIATIMES NEWS NETWORK |
MUMBAI: Biocon Ltd reported a net profit of Rs 284.04 crore for the quarter ended December 31, 2007, a surge of 497.85 per cent from Rs 47.51 crore in the same quarter of pervious year. However, net sales for the period fell 9.29 per cent to Rs 194.19 crore from Rs 214.08 crore same quarter of year ago.
On consolidated basis, the net profit grew 427.63 per cent for the three months ended December 2007 to Rs 291.83 crore from Rs 55.31 crore year earlier, while net sales fell 3.71 per cent to Rs 237.34 crore from Rs 246.48 crore a year ago.
The company has informed BSE about plans to invest in US based biotechnology company, IATRICa & Co, to develop novel immuno-conjugate therapeutics against cancer and infectious diseases.
Biocon and IATRICa will co-develop an exclusive new class of immuno-conjugates for targeted immunotherapy of cancers and infectious diseases. The two will co-develop candidate products based upon IATRICa's technology platform and Biocon's proven expertise in drug development, biologics manufacturing and clinical research.
Biocon will make an equity investment in IATRICa.
Despite the strong earnings, the Biocon share was down 0.71 per cent at Rs 542 on BSE, at 10:32 am.
On consolidated basis, the net profit grew 427.63 per cent for the three months ended December 2007 to Rs 291.83 crore from Rs 55.31 crore year earlier, while net sales fell 3.71 per cent to Rs 237.34 crore from Rs 246.48 crore a year ago.
The company has informed BSE about plans to invest in US based biotechnology company, IATRICa & Co, to develop novel immuno-conjugate therapeutics against cancer and infectious diseases.
Biocon and IATRICa will co-develop an exclusive new class of immuno-conjugates for targeted immunotherapy of cancers and infectious diseases. The two will co-develop candidate products based upon IATRICa's technology platform and Biocon's proven expertise in drug development, biologics manufacturing and clinical research.
Biocon will make an equity investment in IATRICa.
Despite the strong earnings, the Biocon share was down 0.71 per cent at Rs 542 on BSE, at 10:32 am.
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