Financial Daily from THE HINDU group of publications
Friday, Apr 22, 2005
Financial Daily from THE HINDU group of publications Friday, Apr 22, 2005 |
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Corporate Results
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Pharmaceuticals Biocon's Q4 net dips to Rs 35.19 cr Our Bureau
Bangalore , April 21 INCREASED competition and pricing pressure on statins in the European markets saw Biocon's profits for the January-March period dip 7.6 per cent compared to the previous fiscal for the same period. The biotechnology major reported fourth quarter profit after tax of Rs 35.19 crore for 2004-05, against a Q4 PAT of Rs 38.08 crore for 2003-04. Net sales of Rs 155.81 crore, though, saw a growth of 23.36 per cent over the Q4 sales of Rs 132.45 crore for 2003-04. While declaring its performance for 2004-05 on Wednesday, Biocon had not disclosed its fourth quarter numbers separately. Chairman and Managing Director, Ms Kiran Mazumdar-Shaw had said that the company planned to give results on annualised basis as "biotechnology is a sector not measurable on quarterly basis." The pressure on Biocon's Western statins markets started in the second quarter, peaked during the third quarter and has stabilised now, senior company officials said.
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