Biotech major, Biocon Limited in the half year ending September 31, 2006 posted a turnover of Rs 463 crore, EBITDA at Rs 122 crore. PAT at Rs 84 crore.

The company's consolidated sales grew by 23 per cent over the same period in the previous year. Its operating profits (EBITDA) grew by 9 per cent. profit after tax stood at Rs 84 crore while PAT margins were at 18 per cent.

The company said highlights of the second quarter results were that all business segments achieved good growth. Biopharmaceuticals and research services performed particularly strongly. Research services continued to deliver excellent growth in profitability in excess of 50 per cent. Technology and licensing revenues contributed significantly to H1 financials. Biocon's discovery led Diabetes and Oncology research programmes continue to make good progress. Dedicated Sales Force has been established for Oncology Products. There was a cent percent increase in R&D expenditure to Rs 16 crore. The company's monoclonal antibody, BIOMAb EGFR was granted regulatory marketing and manufacturing approval and was launched into the Indian market in September.

Commenting on the results, Kiran Mazumdar-Shaw, chairman & managing director, Biocon Limited said "We have delivered robust and growing profits at a time when we are increasingly investing in our discovery led research programs as they move up the development pathway. We are encouraged by the progress being made on the research & development front. The company is creating a powerful innovation platform for the future in the areas of oncology, diabetes and inflammatory disease."

The company is confident to deliver current levels of profitability in the quarters ahead in spite of increased R&D investment and fixed costs at Biocon Park. Technology & licensing revenues have contributed significantly to our profitability and are an indication of the success of our innovation led initiatives. This will be an integral part of our business going forward, as we build high value Intellectual Property, stated the Biocon chief.