BIOCON LTD - QTRLY RESULTS - Q3 FY 2012 - 3RD Q/E DEC,2011 - NET SALES DOWN 29%;CON-NPT DOWN 16%

Biocon Limited

NSE Symbol        BIOCON

BIOCON LTD has declared its CONSOLIDATED RESUTLS for the third quarter ending Dec, 2011.

Net Sales  stands at Rs.517.19 cr up by 1.72% from Q2 FY 12 ; up by 17.10% from Q1 FY 12; but DOWN by  -28.96% from Q3 FY 11. The growth in sales has been erratic QoQ – and down very much compared to Q3.

Raw Materials     consumption in Q3 FY 12 stands at Rs.232.32 cr – up by  11.87% from Q2 FY 12; up by 8.71% from Q1 FY 12; and DOWN by   -34.02% from Q3 FY 11.

Total Expenditure stands at Rs.433.18 Cr – up by  3.66% from Q2 FY 12; up by 18.23% from Q1 FY 12; and DOWN by       -27.84% from Q3 FY 11.

Profit from Operations stands at  Rs.85.33 cr – down by  -10.71% from Q2 FY 12; up by  10.69% from Q1 FY 12; and down by   -34.09% from Q3 FY 11.

Profit before tax stands at Rs.96.14 cr – down by  -8.01 from Q2 FY 12 ; up by  17.27% from Q1 FY 12; and down by  -26.5% from Q3 FY 11.

Tax Expense stands at Rs.11.29 cr – down by  -39.98% from Q2 FY 12; down by  -5.36% from Q1 FY 12; and down by  -61.16% from Q3 FY 11. The lower tax expense has helped Net loss to come down to some extent.

Consolidated NPT stands at Rs.84.85 cr – down by  -0.99% from Q2 FY 12; up by  21.13% from Q1 FY 12; and down by -15.78% from Q3 FY 11.

Basic EPS( Rs.)   stands at Rs.4.33 in Q3 FY 12; Rs.4.38 in Q2 FY 12; Rs.3.58 in Q1 FY 12; and Rs.5.15 in Q3 FY 12; The, annual EPS comes to around  - Rs.16.62.

The current Market price is Rs. 265.40, While the 52 week high price is Rs.390 and the 52 week low price  is Rs.240.10.

The Price Earnings Ratio comes to 15.97

ANNOUNCEMENTS BY BIOCON

25-01-2012        press release titled "Biocon's nine-month revenues driven by growth in Branded Formulations, Emerging Markets and Research Services". Further, the Company has submitted to the Exchange a copy of fact sheet for December 2011.

10-01-2012        press release titled "Biocon Announces Positive Efficacy Data with its Novel Monoclonal Antibody Itolizumab in a Pivotal Psoriasis Study.

21-12-2011        press release titled "Clinigene International Enters into Collaborative Clinical Research Services Agreement with Pacific Biomarkers".

20-10-2011        press release dated October 20, 2011, titled "Biocon launches INSUPen, a convenient and affordable reusable insulin delivery device"

12-09-2011        press release titled "Biocon announces project commencement for first high-end biopharmaceutical manufacturing and R&D facility in Bio-XCell, Malaysia".

22-08-2011        press release titled "Spaulding Clinical, US and Clinigene International, India Announce Strategic Partnership for Providing Comprehensive Early Clinical Solutions to Pharmaceutical and Biotech Clients".

21-07-2011        press release titled "Syngene and Endo to expand their collaboration in cancer research".

28-04-2011        consolidated Results for the year ended on 31-MAR-2011 as follows: Net Sales of Rs. 277073 lacs for year ending on 31-MAR-2011 against Rs. 236782 lacs for the year ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 36752 lacs for the year ending on 31-MAR-2011 against Rs. 29325 lacs for the year ending on 31-MAR-2010.

28-04-2011        standalone Results for the year ended on 31-MAR-2011 as follows: Net Sales of Rs. 153156 lacs for year ending on 31-MAR-2011 against Rs. 116309 lacs for the year ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 45925 lacs for the year ending on 31-MAR-2011 against Rs. 24836 lacs for the year ending on 31-MAR-2010.

RESULTS TABLE

biocon-consol	q3fy2012	Q2FY12		%DIF1	Q1FY12		%DIF2	Q3FY11		%DIF3
Net Sales	51719	50,844.00		1.72	44,168.00		17.10	72,805.00		-28.96
Other Oprtng Income	132	499		-73.55	179		-26.26	172		-23.26
Increase in SIT/WIP	-1672	374		-547.06	-1,793.00		-6.75	1,499.00		-211.54
Raw Materials	23232	20,767.00		11.87	21,371.00		8.71	35,213.00		-34.02
Traded goods	1722	2,545.00		-32.34	1,646.00		4.62	1,706.00		0.94
Employees Cost	7918	7,783.00		1.73	6,926.00		14.32	8,111.00		-2.38
Depreciation	4339	4,291.00		1.12	4,505.00		-3.68	4,058.00		6.92
Other Expenditure	7779	6,027.00		29.07	3,983.00		95.31	9,444.00		-17.63
Total Expenditure	43318	41,787.00		3.66	36,638.00		18.23	60,031.00		-27.84
Profit from Operations	8533	9,556.00		-10.71	7,709.00		10.69	12,946.00		-34.09
Other Income	1367	1,096.00		24.73	1,054.00		29.70	791		72.82
Interest	286	201		42.29	565		-49.38	656		-56.4
Profit before tax	9614	10,451.00		-8.01	8,198.00		17.27	13,081.00		-26.5
Tax Expense	1129	1,881.00		-39.98	1,193.00		-5.36	2,907.00		-61.16
Net Profit	8485	8,570.00		-0.99	7,005.00		21.13	10,174.00		-16.6
Minority Interest			-	-			-		99
Consolidated NPT			8485	8,570.00		-0.99	7,005.00	21.13	10,075.00		-15.78
Face Value (in Rs.)			5	5		0.00	5	0.00	5		0
Paid-up Equity			10000	10,000.00		0.00	10,000.00	0.00	10,000.00		0
Basic EPS( Rs.)			4.33	4.38		-1.14	3.58	20.95	5.15		-15.92
Diluted EPS(Rs.)			4.3	4.34		-0.92	3.55	21.13	5.1		-15.69
Public holding (%)			39.09	39.09		0.00	39.08	0.03	39.08		0.03

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