Biocon Profit Soars 79% To Rs 361 Crore In Q4

Biocon's net profit jumped 79 per cent to Rs 361 crore in the March quarter on account of an exceptional gain of Rs 268 crore. Biocon, a biopharmaceutical company, is based in Bangalore. 

"The newly signed co-development agreement for rh-insulin with Lab PiSA changes the nature of Biocon's future obligation on the rh-insulin programme. Hence, the previously deferred amounts of Rs 268 crore has been recognized as an exceptional income in the consolidated P&L for Q4 & FY16," Biocon said. 

Biocon's EBITDA or operating profit jumped 18 per cent to Rs 238 crore compared to Rs 202 crore, while EBITDA margin remained stable at 24 per cent. 

Sales rose to Rs 1,004 in Q4 meeting Street estimates. Biocon had reported a net profit of Rs 201 crore on revenues of Rs 854 crore in the corresponding quarter of last fiscal. 

Biocon shares closed 1.16 per cent higher at Rs 571.9 apiece compared to 0.22 per cent gain in the Sensex.