By IANS,
Bangalore : Biotechnology major Biocon Thursday reported a nearly three-fold increase in consolidated profit for the October-December 2009 period at Rs.81 crore from about Rs.28 crore in the same period in 2008.
However, its EBITDA (Earnings before Interest, Taxes, Depreciation, and Amortization) showed a growth of 19.5 percent to Rs.133.12 crore from Rs.111.44 crore in this period.
Net sales increased by 45 per cent to Rs.635 crore for the quarter ended Dec 31, 2009 against Rs.436 crore in the like period last year.
Releasing the results, Biocon’s chairman and managing director Kiran Mazumdar-Shaw said that the company has delivered strong growth in all business segments and they were confident of maintaining this momentum in the next quarter.
The higher profit was driven by robust sales of statins and immuno-suppressants in developed markets, healthy insulin sales in India and emerging markets, strong growth in branded formulations and returns from research services.