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Biocon Q4 Net dips 54pc at Rs. 113 crore

Biotechnology major Biocon on Friday reported a 54.51 per cent decline in its consolidated net profit at Rs. 113.08 crore for the fourth quarter ended March 31, 2014.

The company had posted a net profit of Rs. 248.61 crore in the same period of the previous fiscal.

Net sales of the company rose to Rs. 722.59 crore for the fourth quarter as against Rs. 630.12 crore for the same period a year ago, Biocon Ltd said in a statement.

For the year ended March 31, 2014, the company’s net profit declined by 18.69 per cent to Rs. 413.72 crore from Rs. 508.82 crore in the 2012-13 fiscal.

The company’s net sales for the just-concluded fiscal rose to Rs. 2,852.72 crore, as against Rs. 2,427.60 crore in the previous year.

In a separate statement, the Bangalore-based firm said it has appointed Arun Chandavarkar as the Chief Executive Officer and Joint Managing Director.

The company’s board also recommended a final dividend of Rs. 5 per share (100 per cent) for the FY 2013-14.

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