Biocon's Q4 Net Profit Spikes 64%; Board Approves 1:1 Bonus Shares

On Thursday, Biocon reported a 64 percent increase in its consolidated net profit to Rs 213.7 crore for the fourth quarter ended March 2019. The Biotechnology major had posted a net profit of Rs 130.4 crore for the corresponding period of the previous fiscal.

In a filing to the BSE, Biocon said that its consolidated revenue from operations stood at Rs 1,528.8 crore for the March this year. It was at Rs 1,169.5 crore for the same period year ago.

As for the whole financial year 2018-19, the company's net profit rose two fold to Rs 905.3 crore as against Rs 372.4 crore in 2017-18.

The company's consolidated revenue from operations for 2018-19 stood at Rs 5,514.4 crore in comparison with Rs 4,129.7 crore in the year-ago period.

Biocon's board has also approved issue of bonus shares in the proportion of 1:1, that is one bonus equity share of Rs 5 each for every one fully paid-up equity share held as on record date.

It has also proposed a final dividend of Re 1 per equity share on a pre-bonus share basis.

Shares of Biocon slumped on Friday morning to hit an intraday low of Rs 611.10 on NSE. It closed at Rs 620.20 per scrip on Thursday.