Biocon beats estimates, Q4 net down 3% YoY at Rs 98 cr

Pharmaceutical company Biocon has reported better than expected topline as well as bottomline numbers in its fourth quarter of FY12. Its net profit fell 3% to Rs 98 crore in the January-March quarter of 2012 from Rs 101 crore in a year ago period.

Net sales jumped sharply by 26.4% to Rs 589 crore from Rs 466 crore year-on-year. Analysts on average had expected net profit at Rs 86.2 crore and net sales at Rs 542 crore. Other income during the same period dropped 92.31% to Rs 1.3 crore from Rs 16.9 crore. Biocon has decided to pay Rs 5 a share as a final dividend. Shares of the company jumped 4% post the result announcement by the Bangalore-based company. Commenting on the results, chairman and managing director Kiran Mazumdar-Shaw said, "I am pleased with the overall performance that we have delivered in FY12. Group ales have risen by 16% and PAT was sustained at previous year levels despite lower net licensing income. We have delivered particularly strong growth in our research services and branded formulations business verticals." Watch the accompanying video for more details.... She further said the company's balance sheet remains robust and their cash position is strong. "The global economic outlook remains uncertain. However, we are confident that we will make significant progress across all our businesses," she added.