Biocon Q4 net profit dips 3 per cent to Rs 98 cr

Biotech firm Biocon on Friday reported about 3 per cent decline in consolidated net profit at Rs 97.8 crore for the fourth quarter ended March 31, 2012.

It had posted net profit of Rs 100.81 crore in the year-ago period, the company said in a filing to the Bombay Stock Exchange.

Biocon's consolidated Q4 net sales, however increased to Rs 589.22 crore, from Rs 466.45 crore in the same period of the 2010-11.

It said the firm's directors have recommended a final dividend of 100 per cent (Rs 5 per share) on the share capital of the company, subject to the approval of the members at the ensuing annual general meeting.

For the 2011-12 financial year, the company reported a dip of 7.91 per cent in consolidated net profit at Rs 338.43 crore, as against Rs 367.52 crore in 2010-11.

Shares of the company were trading 2.63 per cent higher at Rs 236 on the Bombay Stock Exchange in afternoon trade.