Biocon on Thursday reported a net profit of Rs 50 crore (Rs 500 million) for the third quarter ended December 2004, up by 44 per cent over Rs 35 crore (Rs 350 million) registered during the corresponding quarter last fiscal.
Revenues stood at Rs 183 crore (Rs 1.83 billion), a 31 per cent jump over Rs 139 crore (Rs 1.39 billion) during the corresponding period last year, a company statement here said.
"I am pleased to report a strong third quarter. Our business continues to expand and all sectors recorded healthy growth despite challenging conditions in the European Stapins (cholestrol reducing molecule) market. Our recently announced collaboration with Nobes and Vaccinex have both made a good start. We remain on track in meeting our strategic and financial target for the year," Kiran Majumdar-Shaw, Chairman and Managing Director, said.