From Our Special Correspondent
Daijiworld Media Network

Bangalore, Oct 22: Biotechnology major Biocon has recorded a three-fold jump in its net profits for the second quarter ending September 30 to Rs 74 crore against Rs 25 crore for the same period last year. 

``It has been one of the most impressive quarters in Biocon’s history,’’ Biocon chairman and managing director Kiran Mazumdar Shaw said while announcing the results  and said the company’s performance was very impressive in the present context of economic recession.

The Biocon group’s consolidated total income rose to 29% at Rs 592 crore for the quarter ending September against Rs 458 crore during the same period last year.

Biocon’s results for the half-year ended September 30, 2009 stood at Rs 1,098 crore against Rs 734 crore recorded the same period last year. The profit after tax for the half-year by a whopping 230% to Rs 132 crore against the Rs 40 crore registered during the same period last year.

``We have posted strong earnings in the first half and confident of maintaining robust growth trends during the remaining period of the year. The market to market losses are behind us,’’ she said.

Syngene and Clinigene, both Biocon’s clinical research subsidiaries, have posted strong results, reinforcing Biocon’s belief that their investments were delivering good returns. The growth rate may touch 30 to 40% in these companies.
 ``The operations are strong and the investments made thus far assure good future profitability,’’ Shaw said adding that the company believed in carrying forward with its policy of investing in creating stronger capabilities and building global skills. 

Indicating that the trend suggested signs of recovery from economic recession, she said the company was stepping up its workforce and going ahead with a recruitment drive. The total workforce would be ramped up from around 3,500 at present to 4,000 by the end of the current financial year. The recruitment will be across different segments, she added.