Biocon: Quotes, News

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The company has posted a net profit of Rs 459.25 crore for FY11 as compared to Rs 248.36 crore for the year ended FY10. Total Income has increased from Rs 1228.92 crore FY10 to Rs 1592.13 crore for FY11.

The Biocon Group has posted a net profit of Rs 367.52 crore for FY11 reflecting an increase of 25%. Total Income has increased from Rs 2404.84 crore for FY10 to Rs 2813.66 crore for FY11.

Kiran Majumdar-Shaw, Biocon's Chairperson and Managing Director, said, "The year ended March 2011 delivered strong multi-sectoral growth. Emerging markets have realised significant and sustained growth for our active pharmaceutical ingredients (APIs), whilst our branded formulations have scripted business success in India."

She said that licensing income from Pfizer and others has contributed materially to the company's profit generation in FY11. Further on, she mentioned that research serviced business supported by Syngene and Clinigene may witness a turnaround. Adding she said, "We are confident this will drive robust profitability next fiscal. To support our expanding business operations, we expect to increase out employee strength by around 1000 in the year ending March 2012."

Biocon's current headcount was at 5500 employees.

The company also announced that it will sell its stake in AxiCorp, the German drug distributor, to minority shareholders. On the occasion Mazumdar-Shaw said that was in the best of everyone's interest to exit.

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