Net revenues during the quarter rose marginally (3%) up to Rs 532 crore form Rs 518 crore. EBIDTA was also down by 17% at Rs 142 crore against Rs 171 crore and PAT at Rs 241 crore.

The Company's Earning per shares stood at Rs 4.2.

Commenting on the results, Ms Kiran Mazumdar-Shaw, Chairman and Managing Director, Biocon, said “Our performance in the first three quarters of FY12 has been good on the manufacturing and services front where profits were up nearly 29 per cent (excluding licensing income). Licensing income, however, was sharply down from the exceptional levels recorded last fiscal which resulted in flat earnings overall.”

Speaking about the R&D pipeline, its Chairman and Managing Director said “We have done well in advancing satisfactorily with two late-stage candidates and several early stage programmes with enormous value creation potential through licensing. We have shaped our broad-based business into key growth verticals, which we believe will enable us to deliver sustainable, long-term value to our shareholders.

On Wednesday, the shares of the company on BSE were trading at Rs 266.50 down by 8.55 points or 3.11%.

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