Biocon Ltd has posted a profit of Rs 225 crore for fiscal ?08, up 12.5%, from Rs 200 crore posted in FY07. The company brought cheer to shareholders by announcing a bonus issue of 1:1 and also issued a special dividend of 40%, in addition to the standard dividend of 60%. Revenues of the company rose 10.1% during FY08 at Rs 1,090 crore compared to Rs 990 crore recorded for the year ended March 31, 2007. Commenting on the company?s performance, Biocon CMD, Kiran Mazumdar Shaw, said, ?We are pleased with our overall performance and have delivered the highest profits to date. We have delivered a 13% increase in PAT despite a Rs 27-crore increase in depreciation, and the sale of our enzyme business.? Shaw said that the bonus issue was meant to improve the liquidity in the market space while the special dividend was ?largely because we divested the enzyme business and like to share a part of it (the cash) with the shareholders?.
