Results corner: Biocon Q3 net up 9% to Rs 93 crore

Biocon Q3 net up 9% to Rs 93 crore

New Delhi: Biocon has reported a 9.38 per cent increase in its net profit at Rs 92.81 crore for the third quarter ended December 31, 2012. The firm had posted a net profit of Rs 84.85 crore during the same period of previous fiscal. Net sales of the company rose to Rs 634.22 crore for the third quarter, as against Rs 516.59 crore during the same period of 2011-12 fiscal. Commenting on the results, Biocon chairman and managing director Kiran Mazumdar-Shaw said the company's revenues grew on back of volume expansions, price increases and improved export realisations. "We have performed well across all our business verticals. We continue to gain market share for Biosimilar Insulins in rest of world (ROW) markets which now accounts for a significant part of our business," Shaw added.

OBC Q3 net dips by 8% to R326 cr

New Delhi: State-owned Oriental Bank of Commerce (OBC) on Friday posted 7.8 per cent decline in net profit at Rs 326.40 crore for the October-December quarter due to increase in provisioning. The bank had posted a net profit of Rs 354.22 crore for the October-December quarter of the previous fiscal. "The decline in net profit is due to the increased provisioning for restructured advances and Rs 30 crore provisions for expected wage revision," OBC chairman and managing director SL Bansal said here. The bank has made a provision of Rs 78 crore towards restructured assets, he added. The total provision during the quarter increased to Rs 603.83 crore compared to Rs 380.86 crore in the same quarter a year ago. The bank's gross NPAs increased to 2.98 per cent at the end of the third quarter from 2.92 per cent in December, 2011.

Shriram Transport Fin Q3 net up 19%

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