Pharma company Biocon has reported a 75% increase in its net profit to Rs 135 crore for the fourth quarter of FY17, citing strong performance in biologics and small molecules. Revenues for the same period however were flat due to what the management said were "elongated approval timelines in some emerging markets, discontinuance of in-licensed products, and the impact of a fire at the firm’s Syngene facility." For the entire FY17, Biocon's revenues went up to Rs. 4,079 crore or 18%, thanks to growth of biosimilars and entry into new markets.
The Biocon board also announced a bonus issue, recommending two bonus shares for every one share and a final dividend of Rs. 3 to shareholders.
Ambuja Cements, which has a Jan-Dec financial year, reported a 4X increase in its first-quarter net profit compared to the same period last year, thanks to pricing that countered higher operational and material costs, and strong sales volume. Net profit jumped to Rs 247 crore in the quarter ended 31 March, from Rs 53.51 crore for the March quarter last year.
The net profit number beat analysts' expectations, of Rs 235 crore. Margins however have shrunk to 15.4%, against 18.6% in the period last year due to higher prices of imported coal and pet coke.
IDFC’s consolidated net profit has edged up 4% YoY to Rs 135 crore in its Q4, from Rs. 130 crore in the same period last year. The company said that loans and advances increased 11% in Q4 to Rs. 53,578 crore. Investment jumped 66% to Rs. 51,030 crore. The financial business of the company had been transferred to IDFC Bank last year, and since then IDFC has continued as an investment company.
