Leading biotechnology company, Biocon Ltd, has posted a profit after tax of Rs 107 crore, for the half-year ended September 30, 2007, registering a growth of 27 per cent over last year’s Rs 84 crore.
Consolidated revenue grew by 19 per cent at Rs 553 crore over last year’s Rs 463 crore, Kiran Mazumdar-Shaw said in Bangalore on Thursday while announcing the company’s financial performance.
Operating margins (EBITDA) grew by 31 per cent.
Research services (Syngene) continued to deliver a robust dollar denominated growth of 60 per cent and an impressive 43 per cent based on rupee realisation, she said.
Bio-pharmaceuticals and branded formulations showed strong
performance, Insulin being a significant contributor.
“Technology and licensing revenues continued to contribute to the H-1 financials”, she said.
Research and Development expenditure increased to Rs 32 crore from Rs 19 crore in the previous year.
“Biocon displayed strong financials in a risky backdrop of currency challenges and business challenges following the divestment of the enzymes division to Novozymes”, she said.
Stating that the appreciation of rupee had impacted both the topline and bottomline, she said that “Profit had been restrained by rupee appreciation”.
The company would have to take measures to minimise risk to exposure of the appreciation of rupee.
