New Delhi, Apr 27 (PTI) Healthcare firm Biocon’s consolidated net profit dropped 58 per cent to Rs 148.4 crore in the quarter ended on March 31, 2017, compared to year ago period.
The company had reported a consolidated net profit of Rs 354.4 crore in the quarter ended on March 31, 2016, Biocon said in BSE filing today.
According to statement, the consolidated total income of the company in the fourth quarter was Rs 974.3 crore compared to Rs 972.7 crore in the corresponding period.
The company’s consolidated net profit for the last fiscal was Rs 688.1 crore as against Rs 609.1 crore in 2015-16. Total income was also up at Rs 4,078.7 crore in 2016-17 compared to Rs 3,460.2 crore in the previous fiscal.
The board of directors of the company at the meeting held on today recommended the issue of 2 bonus shares for every one share held in Biocon. It also recommended a final dividend of Rs 3 per share for FY’17.
Commenting on the performance, Chairperson and Managing Director Kiran Mazumdar-Shaw stated: “We have closed the year FY’17 with a strong revenue growth of 18 per cent led by a sturdy performance of our Biologics as well as Small Molecules businesses. Our revenue growth was muted in Q4 FY’17. Our EBITDA margin at 24 per cent in Q4 reflects a healthy operational performance.”
This is published unedited from the PTI feed.